A new survey evaluating pension trends in the UK has suggested that "policy drift" could endanger the future finances of millions.

According to the Association of Consulting Actuaries (ACA), which conducted the survey, four in five defined-benefit pensions schemes run by companies are now closed to new entrants, while an increasing number are closing to new accruals.

At the same time, combined employer and employee contributions into defined contribution schemes - generally replacing benefit schemes - have levelled off at around a third of that which they were intended to replace.

ACA Chairman, Ian Farr said: "We do not expect employers to reverse their closures of defined benefit final salary schemes

"Unless pension contributions into defined contribution climb or more employees are covered by risk sharing schemes, there is the very real danger that many more pensioners will need to rely on means-tested state benefits in the future."

He called on the government to encourage pension provision above the minimum level, while warning that current optimism about the upcoming Personal Accounts scheme may not be matched by its reception.

Earlier this year, everyinvestor.co.uk suggested that pension incentives are not currently high enough to motivate savers to contribute.