Chairman's welcome

Welcome to the 2025 edition of our annual newsletter. By now, you’ll be aware that we’ve entered into a contract with Pension Insurance Corporation (PIC) to secure the benefits of every member of the UK Pension Fund.

This is known in the pensions industry as a buy-in. Essentially, we’ve arranged an insurance policy from Pension Insurance Corporation (PIC) that guarantees the current and future payment of your pension. You’ll have seen in previous newsletters that this has been part of the Trustee Board’s long-term plan for a number of years, and thanks to our healthy funding position, we’ve been able to achieve this sooner than expected.

Of course, as a member of the Fund, your priority will be the security of the benefits that have been promised to you and your family. Our deal with PIC secures them once and for all, with a level of protection that’s never been stronger. You can find out more about the buy-in and the road ahead for the Fund in this newsletter.

Both the Trustee Board and our pensions team have worked tirelessly to enable the Fund to make this possible. And along the way, we’ve been able to rely on the consistent support of the Fund’s sponsor, Rolls-Royce plc. I’d like to sincerely thank all of them for working together to achieve a great outcome for every member.

I hope you find the updates in the newsletter useful. As always, please get in touch with the team if you have any feedback for us.