Syensqo: strategic pension initiative

(CercleFinance.com) - Syensqo announces that it has taken an important step in its ongoing commitment to the disciplined financial management of its retirees in the USA and Canada, by reducing its pension obligations through the purchase of group annuity contracts.


'This strategic move aims to reduce gross pension obligations and the associated volatility risk, while improving the long-term security of pension benefits for its retirees', explains the Belgian chemical group.

In August, it signed agreements with Pacific Life and RBC, to transfer $485 million of its pension obligations without any change in benefits for its retirees, nor any need for additional funding, as the plans are fully funded.

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