November 29, 2017 / 7:55 PM / 18 days ago

BRIEF-BAE Systems completes revised UK pension funding arrangements

Nov 29 (Reuters) - Bae Systems Plc:

* BAE SYSTEMS COMPLETES REVISED UK PENSION FUNDING ARRANGEMENTS

* BAE SYSTEMS SAYS AT 31 MARCH 2017 FUNDING VALUATION DATE, AGGREGATE OF DEFICITS ACROSS UK SCHEMES WAS 2.1 BILLION POUNDS

* BAE SYSTEMS SAYS THE CURRENT ANNUAL DEFICIT RECOVERY PAYMENTS OF C£205 MILLION WILL INCREASE BY £15 MILLION TO C£220 MILLION IN 2018

* BAE SYSTEMS SAYS DEFICIT CONTRIBUTIONS WILL FURTHER INCREASE IN LINE WITH ANY PERCENTAGE GROWTH IN DIVIDEND PAYMENTS MADE BY THE BAE SYSTEMS GROUP

* BAE SYSTEMS SAYS UNDER THE NEW DEFICIT RECOVERY PLANS, THESE ANNUAL PAYMENTS WOULD SUBSEQUENTLY FALL BY C£50 MILLION IN 2022 AND END IN 2026 Further company coverage:

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