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Total all private UK pension deficit remained at ￡ 179bn at the end of October, from ￡ 200bn at the same point in 2009, so that the total deficit for companies in the FTSE 100 dropped ￡ 86bn last year to ￡ 53bn this year, according to capital strategies retirement.

Despite this improvement, Charles Cowling, CEO of retirement Capital Strategies, said that he had not seen enough impact gaps that could be expected, given the rising stock market, but emphasized the improvement of the levels of funding schemes.

"Image has become a bit far from 12 months earlier, with improvement by 7pc FTSE 100 and FTSE 250 levels of funding."

"Overall, we think the passage of CPI retail could reduce liabilities from pension same 10pc, which means that the obligations of the UK private pension schemes may fall by up to ￡ 120bn.Il remains unclear, however, if the Government is able to produce necessary substitution regulations which would give maximum effect to change,", he said.

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