Rolls-Royce and the trustees of the Rolls-Royce Pension Fund have agreed a longevity swap that will give additional security to all members of the company’s final salary pension scheme. The contract with Deutsche Bank reduces the risk on approximately £3bn of the fund’s liabilities. Around 37,000 pensioners are covered by this agreement.
Linklaters were legal advisers to the trustees. The Linklaters team included Joan Ma, Counsel, Kyara Mathias and Claire Warren, associates in the capital markets team and Claire Petheram, partner and Lorna Buckland, counsel, in the pensions team.
ENDS
For further information, please contact Katie Taylor on + 44 20 7456 2287.
Notes to editors
- Linklaters LLP is a leading global law firm, supporting clients in achieving their strategies wherever they do business. We use our expertise and resources to help clients pursue opportunities and manage risk across emerging and developed markets around the world.
- Blue-chip global clients seek the expertise of Linklaters’ pan-European pensions group to solve their most complex pensions issues. The group has long experience of advising on the pensions elements of the most significant cross-border transactions, including corporate and pension scheme mergers and buyouts. Linklaters’ pensions lawyers help to ensure that pension and retirement benefits are treated consistently worldwide, but comply with all local regulations. Leading multinational companies and financial institutions, sponsors and trustees rely on Linklaters’ day-to-day technical and administrative advice on running pensions schemes. The firm provides cutting-edge advice on good governance of funds, ranging in value from under £100 million to in excess of £20 billion. Linklaters’ pensions litigation practice is also an acknowledged leader in the field.
