UK - Scheme funding levels improved during 2010 despite fears of a double-dip recession and the sovereign debt crisis, UBS Global Asset Management says.
The asset management firm's annual report - Pension Fund Indicators 2011, now in its 39th year - said most equity markets reached the highest levels since mid-2008 despite lingering uncertainty and volatility.
It added the funding positions of many schemes recovered - but noted most are yet to return to their pre-crisis levels.
UBS Global Asset Management head of UK fiduciary business development Sion Cole said this would have a knock-on effect for how schemes manage their assets.
He said: "The focus for pension schemes in 2011 and beyond is on continued diversification, seeking out new sources of alpha and better risk management."
Cole also predicted a further convergence in the role of consultants and asset managers as fiduciary management became a bigger draw for pension schemes in the year ahead.
He said: "We believe this converging of roles is good for trustees; providing a greater choice of firms offering what they require, increased competition and a greater likelihood of securing the services required."
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.