Linklaters advises trustee of Rolls-Royce UK Pension Fund on £4.3bn buy-in with Pension Insurance Corporation

Linklaters has advised the trustee of the Rolls-Royce UK Pension Fund on its £4.3bn bulk annuity insurance ‘buy-in’ with Pension Insurance Corporation (PIC), in the largest de-risking transaction announced in 2025.

The transaction will fully insure benefits payable from the Fund, providing certainty and security for the defined benefit scheme’s 36,000 members.

The Linklaters team comprised Claire Petheram, John Sheppard and Rebecca Fellas.