In this article from the Financial Times Nick Sykes, European director of consulting at Mercer gives his opinion on statements from PwC that "overstated inflation projections are costing UK defined benefit pension scheme sponsors £50bn ($78.8bn) in unnecessary funding commitments." 

"Industry commentators are sceptical that opportunities to conduct in-house transactions exist, since relatively few sponsors are able to provide inflation matching for the length of duration pension funds need" and Nick Sykes says : "Most companies don't have sufficient stability or security in their future business to be talking about matching inflation for 25 years. Even utilities companies would be vulnerable to potential changes in inflation in the future."