More QE a 'Titanic disaster' for pension schemes

The Bank of England's (BoE) second round of quantitative easing (QE) will be a "Titanic disaster" for pension schemes and members, Saga says.

Saga director general Ros Altmann said a second round of QE would present major problems for schemes. Altmann said: "More quantitative easing will worsen inflation and lower long-term interest rates, which will worsen pension fund deficits and lower consumer confidence, thus actually damaging, rather than stimulating sustainable growth." She added another round of quantitative easing would be a "Titanic disaster". "Buying gilts of corporate bonds is not what we need to revive the economy. It may be a short-term boost for bond traders and markets, but it risks a loss of confidence i...