India, Aug. 10 -- Rolls-Royce Holdings Plc has finalized a 4.3 billion pounds or $5.8 billion transaction to transfer its UK pension scheme to Pension Insurance Corporation Plc (PIC), marking a significant step in the engineering giant's strategy to streamline its operations and reduce financial risk, according to several media reports.
The agreement reportedly encompasses the full scope of Rolls-Royce's remaining pension obligations. The buy-in deal secures the retirement benefits of approximately 36,000 scheme members, effectively shifting the long-term liabilities from the company's balance sheet to the specialist insurer.
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The reports said that the mo...