tt electronics plc said monday that it has completed a buyin of all its uk defined benefit pension liabilities giving it an immediate 6 millionpound 71 million cashflow benefit the uk manufacturer of electronic components said a trustee of the tt electronics pension plan has purchased a bulk annuity insurance policy covering all liabilities required to pay future defined benefit pensions for the plans 5000 members and any dependants the policy has been bought using existing assets held in the plan without the need for additional contributions from tt and the company wont be required to make any future contributions in relation to defined benefit liabilities the gbp400 million of liabilities are now matched by the insurance policy and tt no longer bears any investment longevity interest rate or inflation risk bringing a gbp6 million immediate benefit to 2022s cash flow and an equivalent annual improvement in future years this transaction is an excellent outcome for our defined benefit pension scheme members tt and our shareholders chief financial officer mark hoad said