Employees complain their skills are not being used in rules and procedure-based cultures

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."