Half of UK pension scheme trustees do not know how the recession is impacting their funding position, although 60% get regular updates from their actuarial organisation.

Pensions consultancy Punter Southall shows gaps remain between trustee knowledge and understanding, in particular, about the economic downturn.

Jane Beverley, principal and head of research at Punter Southall, said: "Knowledge and understanding will be critical success factors in effective funding negotiations second time around.

"Trustees should consider undertaking focused training and corporate decision-makers might now wish to consider improving their understanding of pensions issues to ready themselves for what is likely to be a much more difficult round of valuations."