Pensions lack transparency.

More than half of finance directors in the UK are not getting a transparent valuation of their pension schemes, according to PricewaterhouseCoopers latest actuarial assumptions survey.

Although there has been a dramatic increase, from one per cent to 45%, in valuations based on market value over the last three years, the survey says 30% of actuaries still have no plans to stop using the simplistic system of valuation that ignores current market value and continues to discount future dividends.

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