Rolls-Royce agrees 4.6 billion sterling pension deal with insurer L&G

LONDON (Reuters) – Rolls-Royce (LON:RR) said on Thursday its pension scheme had agreed to transfer 4.6 billion pounds of assets to Legal & General in Britain’s largest ever pension risk transfer deal.

The deal covers the transfer of assets and liabilities relating to around 33,000 pensioners who are members of the Rolls-Royce UK Pension Fund it said in a statement and would see Rolls-Royce pay a cash contribution of around 30 million pounds.