UK - Requests for help with pension scheme governance from trustees have doubled over the past 18 months, according to Hewitt Associates.
Hewitt claimed the rise was due to the heightened pressure placed on trustees in recent years, with pension schemes coming under increased scrutiny from The Pensions Regulator and shareholders.
Lorraine Harper, head of Hewitt's UK Governance team, said: "Governance is the bedrock of protection - not just for scheme members but also for the sponsor and the trustees who have to make big decisions about running a scheme.
"Unfortunately, with the winding down of DB schemes there is a tendency for governance to be regarded as a luxury, rather than a necessity, leaving trustees with very little effective support for their increased responsibilities."
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.