Negative rates could punch £25bn hole in pension schemes

Negative interest rates could punch another £25bn hole in gold-plated pension funds, experts have warned. The Bank of England has already cut interest rates to a record low 0.1pc but are weighing up whether to go further in an effort to boost economic activity during the pandemic. Silvana Tenreyro, a member of the Monetary Policy Committee that sets interest rates, told The Telegraph on the weekend that evidence from other countries to have adopted sub-zero interest rates was “encour