Pension funds respond to IMF call for more QE

Responding to the IMF report today recommending more quantitative easing (QE) for the UK economy, Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), said:

“If there is to be more QE then the Government needs to do more thinking about the impact on pension funds.

“QE has driven pension funds further into the red and leaves those trying to buy an annuity with a worse deal, which they are then locked into for life.

“We are being told it will all be worth it in the long-run, but in the short-run pension funds and pensioners are being left to deal with the pain. They need, and deserve, much more support.”

Notes to editors:

1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector. Contacts:

Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]

Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]