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Rolls royce pension news.
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Rolls royce hit by big pension fund deficit engine maker rolls royce confirmed it has started talks with workers about how to tackle a 1 1 billion shortfall in its uk pension fund.
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Rolls royce is preparing to close its final salary pension scheme four years early to conserve cash as grounded aircraft pile pressure on its finances.
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The jet engine maker is seeking to end.
This could include the divestment of his spanish company itp aero which was the subject of a failed sale to indra last summer rolls closed its lavish last salary pension plan to new members in 2007 but still has nearly 10 000 employees who still contribute to the plan.
Rolls royce also says that it had no choice other than to reform its pension scheme.
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London reuters 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.
The insurer will take on responsibility for paying the pensions of.
The firm stressed that it intended to keep its final salary scheme open to new and existing employees.