Narrowing Consumer Prices Index and Retail Prices Index inflation will save schemes switching to CPI just 60p a week for each scheme member, according to figures.
A drafting "anomaly" in the Pensions Bill concerning the change from RPI to CPI indexation must be addressed before it gets royal assent, lawyers warn.
The Office for National Statistics is in discussion with stakeholders about creating new indices to calculate benefit payments, including pensions.
Any gains schemes might have made following the switch to the Consumer Prices Index have been wiped out by falling interest rates, JLT Benefit Solutions believes.
Henry Boot has seen its pensions deficit rise in the first six months of this year despite implementing a raft of changes in March to limit its liabilities.
Persimmon has halved its pension fund deficit after switching from RPI to CPI to revalue benefits for deferred and pensioner members.
Inflation risk has become a key concern to sponsors and trustees in light of the continued uncertainty around which measure to use for indexation, a Metlife poll reveals.