The pension scheme at the heart of the industrial dispute at Grangemouth, which has led to one of Scotland (and the UK's) biggest industrial facilities being partially shut down today, is "the most generous in the UK", according to the company. Just how good is it?

Yesterday, the privately-held chemicals group that runs the site, Ineos, said it would close down the petrochemicals plant that forms one-half of the Scottish complex, following the rejection by workers of a "survival plan" it had put forward to keep the business going, including potential cuts to workers' salaries, and replacing their final-salary pension scheme with a far cheaper version.