The new pensions funding code could add a further £100 billion to UK pension deficits and result in a doubling of pension contributions for a typical employer, according to new analysis from KPMG.

As the industry waits for an updated Code of Practice on Funding Defined Benefits (the regulatory rule-book for pension funding valuations), pension trustees and their sponsors will be watching markets closely as the end of March is the most common valuation date for defined benefit (DB) pension schemes.

KPMG expects pension funding deficits to be broadly unchanged over the last year, at approximately £180 billion across the...