The new UK government should focus its attention on fixing the estimated £47 billion deficit in the main funded public-service pension scheme, rather than forcing its managers to invest their money passively, the country’s top pensions lobbyist will say today.

Joanne Segars, chief executive of the National Association of Pension Funds, will call for the change in strategy at the organisation's main conference for public-sector funds, held in the Cotswolds on Tuesday and Wednesday.