Rolls-Royce Offloads UK Pension Fund to PIC in £4.3 Billion Deal

Rolls-Royce Holdings Plc has sold its UK pension pot to an insurance firm in a £4.3 billion ($5.8 billion) deal, bolstering the engine manufacturer’s efforts to simplify its business.

The deal with Pension Insurance Corporation Plc will cover Rolls-Royce’s entire outstanding liabilities to its workers, comprising the pensions of 36,000 people, the companies said in a statement on Sunday.