The government's "loose" monetary policy of quantitative easing (QE) and low interest rates is diminshing retirees' income, a report by MPs concludes.
The Treasury Committee has called on the government to explore ways to help pensioners whose retirement income has been undermined by the policies.
Since March 2009, some £325bn has been injected directly into the UK economy in a bid to stimulate growth.
Meanwhile, the nation's interest rates are currently at 0.5% - the lowest level in the Bank of England's history.
But the Treasury Committee today said QE penalised savers by redistributing money to borrowers.
The BoE argues that some of those effects may be mitigated by the increase in asset prices stimulated by QE.
The Committe has called on the Bank to provide an estimate of the "overall benefit and loss to pensioners and savers from quantitative easing".
"Loose monetary policy, achieved through quantitative easing and low interest rates, has redistributional effects, particularly penalising savers, those with 'drawdown pensions' and those retiring now," it said.
"While the aggregate of savers and pensioners may have received some benefit from higher asset prices, there will be many individuals who will not have benefited.
"We recommend that the government consider whether there are any measures that should be taken to mitigate the redistributional effects of quantitative easing, and if appropriate consult on them at the time of the Autumn Statement," it said.
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