MPC cuts Bank Rate, August 2016- PwC comments on pensions

Published at 12:25 PM on 04 August 2016

Commenting on the latest Bank Rate out today, Richard Cousins, pensions consulting partner at PwC, said:

“Today's base rate cut means long-term gilt yields are likely to take longer to reach their pre-crisis levels. PwC's recent pensions risk survey showed interest rates are the biggest risk to schemes currently. Half of schemes did not have material hedging in place to protect against sustained low long-term interest rates. The next few years are going to be demanding for scheme trustees and sponsors as they try and juggle how to measure and repair stubborn deficits in a persistent low interest rate world.”

Ends

For further information please contact Felix Ampofo: [email protected]/0207 213 3646


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