Pension trustees' statement on long-term security of member benefits
Monday 23 April 2018
Trustees of two legacy Reuters pension schemes said they have presented detailed proposals to Thomson Reuters and Blackstone which focus on protecting the long-term security of members' benefits.
The Reuters Pension Fund (RPF) and Supplementary Pension Scheme (SPS) trustees said in a statement they have received extensive reports from their advisors and developed detailed proposals regarding the two funds.
They said they are encouraged by “the collaborative attitude” Thomson Reuters and Blackstone have shown them in discussions over the sale of a majority stake in the group’s terminals and data business.
Thomson Reuters is selling 55 per cent of its financial and risk division to Blackstone, the world’s largest private equity firm. The transaction, due to be completed in the second half of this year, has implications for RPF and SPS.
The Trustees said a further meeting will be held when the companies have been able to consider the proposals.
The trustees’ statement said:
“Following the meeting with representatives of Thomson Reuters and Blackstone which took place in February, and which has already been reported to members, the Trustees have now received extensive reports from their advisors and have, over the last few weeks, developed detailed proposals regarding RPF and SPS. Trustees representing both RPF and SPS met again last week with representatives of Thomson Reuters and Blackstone, to present their proposals - which focus on protecting the long-term security of members' benefits. The Trustees are encouraged by the collaborative attitude Thomson Reuters and Blackstone have shown towards the Trustees; and a further meeting will be held when the companies have been able to consider the proposals.
“Further updates will be provide as appropriate.” ■
- Reuters Pension Fund