Bank of England investigates itself and finds its "Not Guilty" over QE

Well, that's okay then. Never mind perfectly sound pension schemes are closing left, right and centre. The Bank of England has looked into whether its ongoing policy of Quantitative Easing (QE) has any negative effects and has concluded the good outweighs the bad.

Apparently the fact that QE has benefited the rich (top 5%) the most isn't of concern to this Coalition cabinet of millionaires either.  I do wonder why?

The cut in gilts yields due to QE is helping to make many private sector DB pension schemes seem unaffordable and adding to the pressure for them to close. It increases the so called "deficits" which due to current abnormal 200 year market low conditions are already pretty meaningless. 

This has nothing to do with poor investment returns or increases in life expectancy. This is solely down to a discredited and outdated accountancy measure ("mark to market") which the Bank of England is aware of but does nothing about and while the Government has promised not to idly stand by and watch good pension schemes go to the wall, so far, it has done nothing either.