More than a third of respondents to the GP100 Panel have experienced changes to their pensions as a result of national or local budget problems.
Some 35.71% of those questioned said they had experienced either cuts to benefits or increases to contributions as a result of economic shortfalls.
One respondent said: “Employees that worked at the pension have been furloughed, have had a pay and benefit re-duction, and an increase in their contributions. This is in line with others in the system. Additionally, the formula for calculating pensions has been made more stringent and a new ‘tier’ for new employees (was added).”
Others said their scheme had been forced to increase contributions, while one added: “Benefit changes have been legislated, impacting new employees of the pension scheme.”
Read more about the effects of austerity measures on pension funds here.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.
Labour Party plans to renationalise core industries and require the largest listed companies to hand 10% of shares to employees would be a "double whammy" for pensions, business leaders have warned.
A handful of industry heavyweights have begun trialling a so-called 'mid-life MOT', with positive initial results reported by all those involved.