The Treasury select committee is to investigate how low interest rates and quantitative easing have impacted the economy since 2008.
Within the inquiry, the MPs will consider how policies have affected the long-term sustainability of pensions and savings income.
It will broadly consider the effectiveness of monetary policy in meeting the inflation target, the unintended consequences of the policies, and further prospects for policy.
The investigation follows a year where the Bank of England (BoE) cut interest rates from 0.5% to 0.25%, and approved £70bn of quantitative easing measures on 4 August.
At the time, Hymans Robertson estimated the decisions caused total defined benefit (DB) liabilities to swell by £60bn overnight, due to the impact on 10- and 20-year gilt yields, which hit record lows.
The central bank's move exacerbated problems caused by a fall in gilt yields in the immediate aftermath of the 23 June referendum on Britain's membership of the European Union.
However, in October, BoE deputy governor for monetary policy Dr Ben Broadbent told the Work and Pensions Committee (WPC) that QE had not hurt businesses with DB schemes, arguing there was no evidence to support the premise.
Funds have somewhat recovered since the decision as gilt yields have risen somewhat in the past couple of months. The Pension Protection Fund's (PPF) 7800 Index recorded the combined deficit of DB schemes fell by £81.2bn in November, thanks to rising gilt yields.
Announcing the inquiry on 22 December, the central bank's chairman Andrew Tyrie said the consequences of monetary policy, intended or otherwise, needed proper scrutiny.
"Interest rates are stuck near zero, the Bank of England has used increasingly unconventional forms of quantitative easing, and inflation has been below the 2% target for three years," he said.
"The efficacy of monetary policy or otherwise, its unintended consequences, and its prospects, need careful examination."
The inquiry, which will also explore whether low rates encourage more saving, is asking for written submissions on the topic. It will accept evidence until 5 March 2017.
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