Crabette, I agree, the trustees have no say. All they can do is try and manage the fund that the Company allows them to have. There are legal nets which will stop the fund becoming underfunded but at the end of the day, if the employer doesn't want to support the pension fund he can pull the plug completely. Unfortunately with both BHL's and Scotia's owners coming from across the pond where they don't like FS pension schemes, both UK managements will be put under severe pressure to cut their liabilities. This unfortunately will do nothing for the skills retention (and aquisition) problem. I would still like to hear more from NRDK on how reliable his information is.