The majority of smaller stressed defined benefit schemes are likely to end up in the Pension Protection Fund, according to consultancy Barnett Waddingham, as it raised concerns that the Pensions Regulator's new tougher stance may remove vital flexibility from the system.

It's quick, easy and as a registered user you'll have full access to all Pensions Expert articles. You will also be able to receive editorial emails.

If you are already registered, please click here to login.