Despite around two-thirds (65 percent) of pension fund executives in Europe and North America saying their funded status has improved over the past year, including 5 percent who say it has improved dramatically, almost three-quarters (74 percent) say they will or are likely to increase contributions this year, according to a new survey from Ortec Finance.

The survey, which targeted senior pension fund executives in the United Kingdom, United States, the Netherlands, Canada and the Nordics, whose funds collectively manage US$1.5 trillion in assets, also found almost three-quarters (73 percent) will increase their budget for and focus on scenario modelling, asset-liability management and stress testing during the next two years. That includes 20 percent planning to increase their budget for and focus on the issues dramatically.

About a third (32 percent) of those surveyed say the fund they work for is already very effective at scenario modelling and stress-testing. About