Baroness Altmann, a UK pensions expert, was brought into the British government in 2015 by David Cameron, then prime minister.
The baroness now warns the Bank of England’s QE strategies have pushed pension schemes “over the edge†because of declining yields.
The Bank of England essentially agrees, stating that it “fully†recognized that a long period of low interest rates put savers in a “very difficult position†which could result in bigger institutional savers moving to riskier assets.
Nonetheless, the Bank of England says it will not change anything.
Over the Edge
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Please consider Parliament Must Probe Company Pensions Crisis, Says Ex-Minister.
