BoE 'oblivious' to lasting effects of QE on pensions - Altmann

BoE analysis, released today, concluded the £375bn programme had benefitted the economy and things would have been a lot worse without it. It added the main reason for the fall pension fund values was the financial crisis not QE. However, Altmann, director-general of Saga, said the analysis fails to recognise the negative impact QE has had on the country's 21 million over 50s. The bank said pension savers are no worse off due to QE gilt-buying because the value of their pension savings has gone up to offset the drop in annuity income. But Altmann said: "This assertion is simply not...