The reduction in defined benefit schemes has resulted in an overall lower pensions coverage, research from Office for National Statistics shows.
Scheme deficits increased significantly in January according to the latest funding survey, compounding mixed messages on the state of defined benefit funds during a month of stock market gains.
The gap between the Retail Prices Index and Consumer Prices Index widened to 0.6 percentage points in January, according to latest figures from the Office for National Statistics.
Deficits at the UK's biggest schemes rose more than 20% in January despite big gains on the stock market, according to research from Mercer.
So in the end the Office for National Statistics bucked expectation and decided to keep things the same. Well, apart from adding one more measure of inflation to their three already often-criticised measures.
The ‘no change' announcement by the Office for National Statistics has added £20bn to FTSE100 deficits as gilt market expectations for inflation increased.
After consulting on options for changing Retail Prices Index, the Office for National Statistics has chosen 'none of the above' and proposed a new index to be published in parallel.
Charles Amos separates fact from fiction in the pensions blame game
Pensioner incomes have risen by 50% over the last 16 years according to research from the Office for National Statistics.
Saga director general Ros Altmann has said the maths behind the retail prices index is not wrong and the Office for National Statistics' proposal to change it is solely about the government reducing costs.