They say acknowledging that you have a problem is half the battle, but corporate pensions in the United States and the United Kingdom appear to be losing. A report released Wednesday from MetLife found that while both countries cite underfunding liabilities and deficits as the greatest risks to their pension plans, neither have made many inroads in successfully managing it.

The report is based on data from the 2011 MetLife U.S. Pension Risk Behavior Index and the 2011 MetLife Assurance UK Pension Risk Behaviour Index, which surveyed plan sponsors in the U.S. and scheme sponsors and trustees in the U.K. on 18 investment, liability and business risks to which their plans are exposed.

In 2010, plan sponsors rated the 18 risk factors named in the survey as equally important. In 2011, however, sponsors are focusing on a more narrow set of risks. The new report found that 66% of respondents in the United States said underfunding liabilities was the most important risk factor. In the United Kingdom, funding deficits were cited as the most important risk factor by 58% of respondents.