Unisys transfers $200 million of pension obligations to New York Life

Unisys ($UIS) transferred approximately $200 million of US defined-benefit pension obligations to New York Life through an annuity transaction covering about 1,700 retirees and beneficiaries. The purchase was funded with pension-plan assets rather than additional corporate cash. The company said the transfer would not change the amount or timing of participants’ benefits.

The transaction brings the reduction in pension obligations since July 2025 to approximately $520 million, against a $600 million target. Unisys expects to recognize a one-time, non-cash pre-tax charge of around $150 million in the third quarter. The charge should be distinguished from an equivalent cash outflow. The update confirms a completed risk-transfer transaction while also signaling a material accounting effect in the forthcoming earnings report.

Sources:

• Unisys — pension transfer announcement, company release reprint