Rolls-Royce offloads UK pension fund in £4.3bn deal with PIC Money Rolls-Royce has sealed a £4.3bn deal with insurance specialist Pension Insurance Corporation (PIC) to offload its UK pension scheme as the engineering giant presses ahead with simplifying its balance sheet. The deal, which was announced on Sunday, covers the remaining pension obligations of 36,000 members — including 15,000 current pensioners and 21,000 deferred members — [...]
Fear over Labour plans to allow firms to extract cash from pension schemes Economics The vast majority of pension scheme members are “afraid” of government plans that would allow firms to take cash from defined benefit (DB) schemes for investment. Prime Minister Keir Starmer and Chancellor Rachel Reeves signalled earlier this year that “trapped surplus funds” in DB pension schemes would be unleashed for firms to invest. But a [...]
Reeves eyes £80bn investment with pension ‘megafunds’ Investing The Chancellor Rachel Reeves will unveil plans to consolidate the UK’s sprawling £400bn local authority pension schemes today in a bid to unlock a wave of investment into the UK. In her first Mansion House speech in the City, Reeves is expected to announce a new Pension Schemes Bill to be introduced next year, aiming [...]
