Pensions to take £90bn hit from QE, says NAPF

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Businesses running final-salary pensions are being "clouted" by the government's quantitative easing (QE) programme, says the National Association of Pension Funds (NAPF).

The NAPF claimed QE has knocked £90bn off the value of final-salary schemes as it has made government bonds, in which pension funds are big investors, more expensive to buy. This, it said, has served...

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