Unisys Offloads $200 Million in Pension Obligations to New York Life

This transaction brings Unisys’ cumulative reduction of U.S. defined benefit plan liabilities to $520 million since July 2025. The company remains on track to meet a $600 million reduction target, with an additional settlement anticipated by January 2027. Under the terms of the annuity contract, New York Life assumes full responsibility for the monthly payments of the affected retirees. The company confirmed that these beneficiaries will see no changes to the timing, form, or gross amount of their existing pension disbursements.

While the deal improves the company's long-term balance sheet, it triggers a one-time, non-cash, pre-tax settlement charge of approximately $150 million in the third quarter of 2026. Because the purchase utilizes funds already held within the pension trust, the move has no direct impact on the company’s current cash position. New York Life, which holds top-tier financial strength ratings, will manage the obligations as part of its broader retirement income portfolio.