FTSE 350 companies are responding to warnings from consultants and regulators that pension scheme members could live longer than expected, and last year added £13bn (€19.2bn) to overall liabilities as a result, new research shows.

In September, the UK Pensions Regulator waded into the debate about the impact of people living longer than expected, issuing a warning to companies that underestimating life expectancy among their members could expose them to tens of millions of pounds of unforeseen liabilities.