Quantitative easing (QE) has been an "unmitigated disaster" for anyone about to retire or people who have just bought an annuity, a pensions expert has said.
Saga director-general Ros Altmann said today's inflation figures, which fell from 3.5% to 3% in April, should not ignore the impact that QE has had on pensions as a whole. She said: "We can't divorce today's inflation figures from QE, a scheme which has been an unmitigated disaster for anyone recently or soon-to-be retired who does not have a final salary pension scheme. "I find it deeply troubling that Bank of England officials want to deny the fact that QE has damaged UK pensions as a whole." Altmann also said Saga "fundamentally disagrees" with the International Monetary Fund's ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
