A fifth, 20%, of people don’t know what type of pension they have, despite more than half, 53%, of Brits claiming to be knowledgable about pensions.

The Pensions Regulator (TPR) says it expects DB schemes to switch their focus from deficit recovery to ‘endgame planning’.

The aggregate surplus of DB pension schemes fell to £232.7bn at the end of February, according to the latest Pension Protection Fund (PPF) 7800 Index.

The government will today confirm government plans to lift restrictions on defined benefit (DB) scheme surpluses.

The aggregate surplus of DB pension schemes increased to £476bn at the end of September, according to the latest Pension Protection Fund (PPF) 7800 Index.