UK - Defined benefit schemes experienced an increase of more than £170bn (US$275.2bn) in total deficits in 2009, marking the worst year on record, Pension Capital Strategies said.
PCS estimated all UK private sector pension schemes had a deficit of £212bn as at December 31, representing a funding level of 81%.
The firm said this compares with a £37bn deficit in the previous year, marking a 96% funding level.
It also showed FTSE350 companies had a £80bn deficit, with assets of £460bn and liabilities of £80bn.
PCS managing director Charles Cowling said: "2009 has not been a good year for UK pension schemes. Indeed the increase of £170bn in the total deficit is the worst calendar year performance on record."
He said despite strong investment returns in equities among other asset classes, pension deficits rose sharply as liabilities surpassed investments.
PCS said it was largely due to reductions in AA bond yields used to value pension liabilities, as well as increased inflation expectations.
Cowling added: "We believe 2010 could mark a turning point for employers as liability reduction measures become normal and the closure of DB schemes to all employees accelerates, thus capping the growth in new liabilities.
"2010 therefore holds up the prospect of being the year when UK plc finally turned the corner in the management of its pension liabilties."
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.