BoE rate hike 'not cause for concern' for occupational pensions

The historic hike to 3% follows much financial market speculation following the disastrous Mini Budget in September and the increasing economic uncertainties over the last few years. However, the industry is not offering too much concern for the time being. Hymans Robertson co-head of defined benefit (DB) investment Elaine Torry said for schemes, the increase in short-dated rates "in isolation should not be too much cause for concern". However, she warned the rationale for the increase, coupled with other upcoming fiscal announcements "could cause a ripple effect up the yield curve...