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In response to The Pensions Regulator's consultation on choosing assumptions for defined benefit schemes (DB), particularly regarding mortality, NAPF has a number of concerns.

It warns that the regulator's proposed approach to mortality assumptions will place unnecessary pressure on pension schemes.

In its guidance, The Pensions Regulator wants companies to assume that the average 65-year-old pensioner retiring today will survive for a further 25 years until age 90, rather than age 85 as currently assumed by most companies.

Under the new plans, also known as the long cohort, many UK companies are worried that they could have to add billions of pounds to their pensions liabilities and what is intended as merely guidance could end up being treated as a new minimum requirement.

NAPF director of policy Nigel People said: "This latest proposal goes one step too far in trying to ensure trustees adopt prudent assumptions.

"While guidance from the regulator is very welcome, using the long cohort mortality assumption as a trigger for further regulatory scrutiny will push trustees into using it regardless of the specific circumstances of their scheme."

He added that the wide scale adoption of this assumption will increase liabilities and scheme costs and will undermine the future of high-value defined benefit pension provision.