Rolls-Royce, the UK engine manufacturer, is in talks to close its two remaining defined benefit pension schemes to new members. It closed a third six years ago. The company will also pay £500m (€720m) to narrow the £1.3bn combined deficit of all three schemes.

The Rolls-Royce Pension Fund, the main scheme, was closed to new members in 1999, and in 2003 the company injected £567m into the fund.