A significant proportion of contributors were concerned that schemes are over-exposed to interest rate risk, but one quarter said this was not a problem.
"Most schemes have yet to consider strategies to manage interest rate risk, which could be dangerous," said one respondent. Another contributor questioned how many schemes understood interest rate risk....
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.