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abrdn plc Announces Strategic Pension Plan Adjustments for 2024

Story Highlights
  • abrdn plc manages defined benefit and contribution pension plans in the UK and Ireland.
  • The company plans to use pension surplus to boost capital generation by £35 million annually from 2025.
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abrdn plc Announces Strategic Pension Plan Adjustments for 2024

abrdn ( (GB:ABDN) ) has provided an announcement.

abrdn plc has announced its full-year results for 2024, highlighting its management of pension plans. The company has reached an agreement with the trustee of its principal defined benefit pension plan to utilize part of the existing surplus to fund defined contribution benefits for current employees. This strategic move is expected to enhance net capital generation by approximately £35 million annually from July 2025, contingent on the completion of ongoing employee consultations. The announcement underscores abrdn’s proactive approach to pension management and its potential positive impact on financial operations.

More about abrdn

abrdn plc is a company operating in the financial services industry, focusing on investment management and related financial services. It provides a range of pension plans, including defined benefit and defined contribution plans, primarily in the UK and Ireland.

YTD Price Performance: 12.33%

Average Trading Volume: 3,386,426

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £2.83B

For an in-depth examination of ABDN stock, go to TipRanks’ Stock Analysis page.

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