The Bank of England's (BoE) decision to increase interest rates for the first time in over a decade has been welcomed by the industry, yet the move will only be "symbolic" for most defined benefit (DB) schemes.
The doubling of the rate from 25 basis points (bps) to 50bps came yesterday after months of hints from the central bank, with its Monetary Policy Committee (MPC) approving the change with a 7-2 vot...
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