I have to say Tim, you appear much better informed than I - I hope for all our sakes that you are right. My only major doubt is the info I had from my own actuary/adviser, who led me to belive that any Company can wind up the scheme if it can show that repayment of the deficit would cause sufficient pain to actually imperil the future of the Company itself. That is the method I would use if I were the BA board, having first gone through the softening up exercise which you so aptly describe above. My other understanding which seems to be queried on here is that in the event of wind up, then present pensioners always take precedence over deferred and active contributors - some on here seem tio think this is wrong as well. Nothing would give me more pleasure than to believe it, but I have serious doubts. Finally, I understand that a scheme can only be wound up when the Company is insolvent, other than the case I mentioned above, when deficit repayment threatens the Company's future - any informed comment? (Of course, in the case of closure, all liabilities have to made in full, which is why i don't believe thatis an option!