The industry has welcomed the code of conduct on enhanced transfer value exercises and pension increase exchanges, but questions remain over how it will impact take-up of offers.
The Bank of England's move to increase quantitative easing by £50bn will prolong low gilt yields for a further 12 months, adding further strains on pension funding positions, experts say.
Pension deficits increased more than 50% last year, but widening spreads between corporate bonds and gilts have masked an even greater deterioration in funding positions, argues Hymans Robertson.
Short-term inflation remains a "headache" for schemes and sponsors, despite a fall in the inflation rate in October.
Two-thirds of FTSE350 firms use lower levels of inflation than the market to calculate pension accounts - shaving £7bn off deficits, a survey shows.
Regulatory focus on plugging scheme deficits quickly is "unhelpful" and could actually damage businesses and pension funds, Hymans Robertson warns.
Scheme funding arrangements driven by special purpose vehicles are gradually becoming more accessible to smaller firms, consultants say.
British Airways' resolution with unions over its £3.7bn deficit is encouraging but will not solve the problem in the long term, industry experts warn.
UK - British Airways' resolution with unions over its £3.7bn (US$5.7bn) deficit is encouraging but will not solve the problem in the long term, industry experts warned.