US - The funding status of S&P 1500 pension schemes dropped in July for the third month in a row on the back of falling AA corporate bond yields, Mercer said.
The aggregate funding status of these plans was 81% at the end of July, down one percentage point from the previous month.
In the same time period, the Mercer Yield Curve fell to 6.1%, from 6.79%, partly negating some of the gains in the equity markets, Mercer said.
The change in the yield curve caused liabilities to increase by 7.6%, said Mercer financial strategy group principal Adrian Hartshorn.
He said: "As companies set budgets and business plans for 2010, the potential impact of the 2008 investment performance will continue to be important."
He added: "Many companies could be facing higher pension costs...and higher cash contribution requirements in 2010 compared to 2009."
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.