UK - Nine-tenths of trustees and sponsors believe deficits will increase at their next valuation, latest Hewitt research revealed.
The consultant's survey - which polled more than 150 pension schemes, representing more than £300bn (US$497bn) in scheme liabilities - found that over half of respondents predicted the increased deficits would lead to contributions being higher than employers could reasonably afford.
But it also found closure was not now the favoured option when dealing with deficits - a finding that contrasted sharply with a study it conducted in January, which showed scheme closure to be the favoured option among sponsors.
Hewitt said extending the length of the recovery plan over a longer period of time to assist short-term cash flow was seen by 97% of trustees and 79% of companies as the most affordable way of funding the expected increase in deficit.
Other actions under consideration included reducing rates at which the liabilities grow - including options such as keeping the DB plan open but capping pensionable salary increases and using longevity swaps - and allowing for asset out-performance within the recovery plan.
Schemes were also considering alternative financing - such as parental guarantees and bank letters of credit - and reducing the level of prudence included in technical provisions.
Hewitt Associates global risk services UK leader Kevin Wesbroom said: "A new, realistic and longer-term approach is emerging - one that recognises preserving the company's financial health is in the best interests of the scheme and its members."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.