Bank of England

A round-up of the key points after yesterday's rate cut by the Bank of England, and the introduction of what one economist dubbed its "bazooka surprise".

This week's top stories were about speculation over a ban on defined benefit (DB) transfers, the Bank of England's interest rate cut, and the closure of advisory firm City Noble.

The Bank of England's decision to cut interest rates for the first time in seven years will keep gilt yields lower for longer, increasing scheme deficits which are already at record highs.

Total deficits of UK defined benefit (DB) schemes have reached an all-time high for the sixth month in a row, according to JLT Employee Benefits.

Master trusts should be approved under a strict licensing regime policed by The Pensions Regulator (TPR), says Adrian Boulding.

The Bank of England's decision to hold interest rates at 0.5% has temporarily eased the pressure on pension schemes but poses dilemma for trustees, JLT Employee Benefits says

The industry has to be more flexible to make defined benefit (DB) schemes more sustainable during this time of economic uncertainty says Ros Altmann.

The triple lock on state pensions most likely to go due to Brexit according to PP research.

Total deficits of UK defined benefit (DB) schemes reached an all-time high of £341bn by the end of June amid uncertainty over Brexit, according to JLT Employee Benefits.

FTSE100 companies overall scheme deficits have reduced by over £15bn according to Barnett Waddingham's annual Accounting for Pension Costs by FTSE100 Companies report.