Gold ticks up but remains pressured by Fed rate caution, easing trade fears
Investing.com -- Legal & General has reached an agreement to take over £4.6 billion ($6 billion) of pension liabilities from Ford, according to Financial Times, citing executives from both companies.
The transaction will cover the retirement savings of 35,000 people across two of Ford’s UK pension schemes - the Ford Hourly Paid Contributory Pension Fund and the Ford Salaried Contributory Pension Fund, the report said.
This pension risk transfer deal represents one of the larger transactions in the UK market, as companies increasingly look to shift long-term pension obligations to specialized insurance providers.
The agreement allows Ford to remove these substantial pension liabilities from its balance sheet while ensuring the retirement benefits for thousands of current and former employees remain secure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.