UK - The Pension Protection Fund is set to become one of the largest pension schemes in the UK in the next five years, Hymans Robertson warned.
The consultant said this could put its finances under severe strain and that action should be taken.
Head of corporate consulting Clive Fortes said: "We estimate that the PPF scheme could have £30bn of assets under management by 2015, rivaling the size of the BT pension scheme, the Royal Mail pension plan and the Universities Superannuation Scheme."
He added the PPF could easily grow more quickly if corporate failures continue at the current pace and if market conditions persist.
He said: "Given these projections, the PPF finds itself in a quandary because the benefits protection it offers to scheme members has, from the outset, been too generous. It would be wrong to let this all unravel, so there are two stark choices.
"The fairest would be for the PPF to be up-front and reduce to an affordable level the rate at which it pays benefits out. The other route is for the government to acknowledge the fundamental value of the PPF to the well-being of millions of pension scheme members by underwriting the PPF's commitments."
The PPF declined to comment.
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
Smart Pension has taken on over 20,000 active members from the £20m Corpad Master Trust, following a strategic review by the ceding firm's trustees.
The Universities Superannuation Scheme (USS) allegedly obstructed a whistleblower as she tried to discover the true value of the deficit in its defined benefit (DB) section, according to reports.
The Cost Transparency Initiative (CTI) has launched a number of templates and guidance to help pension schemes deliver greater value for savers with enhanced disclosure of transaction cost information.