Defined Benefit

Jean-Baptiste Colbert - the French minister of finance under King Louis XIV - is said to have observed "the art of taxation consists in so plucking the goose as to obtain the largest amount of feathers with the least possible amount of hissing".

A merger deal between British Airways and Iberia, the Spanish airline, could be terminated should BA be unable to reach a funding arrangement with its scheme trustees.

More than 1300 delegates have now registered to attend this year's Professional Pensions Show.

UK - Barclays has reported a one-off credit of £371m (US$620.1m) resulting from the closure of its UK final salary pension scheme to existing members.

Barclays has reported a one-off credit of £371m resulting from the closure of its UK final salary pension scheme to existing members.

Trinity Mirror has announced it is entering a two month consultation period with employees over its proposal to close its defined benefit pension schemes to future accrual.

UK - British Airways saw its net pensions deficit increase from £307m (US$509m) to £2.6bn following an interim valuation.

Tate & Lyle has begun a consultation with employees over the closure of its defined benefit scheme to future accrual from April 2011.

Last week I spent part of my holiday visiting Blackpool's illuminations.

British Airways saw its net pensions deficit increase from £307m to £2.6bn following an interim valuation.