Rolls-Royce agreed Britain's largest ever transfer of corporate pension ris...
LONDON - Rolls-Royce agreed Britain’s largest ever transfer of corporate pension risk, announcing on Thursday it would shift 4.6 billion pounds of assets to insurer Legal & General.
Rolls-Royce, which makes engines for the Boeing 787 Dreamliner and the Airbus A350 XWB will transfer the assets and liabilities of around 33,000 pensioners in its UK Pension Fund, it said in a statement, out of a total 76,000 members. He has stripped out layers of management, simplified production processes and tackled finances to make the company fit for the future.
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