Bank of England

To replace McDermott

PP considers how big a risk this is for schemes and how they can manage it

While rising rates will reduce liabilities, global divergence in monetary policy poses serious risks for scheme funding levels, writes Stephanie Baxter.

The Federal Reserve's landmark decision to raise interest rates for the first time in almost a decade paves the way for the UK to follow suit. PP looks at what could be in store for schemes.

Inflation continues to hover around zero according to Office for National Statistics (ONS) figures, meaning interest rates are likely to remain at historic lows well into 2016.

Rupert Brindley believes good times are just around the corner for struggling defined benefit schemes

Central banks are set to go indifferent directions

Total UK defined benefit (DB) pension deficits shrunk slightly in October but still stand at £228bn, according to figures from JLT Employee Benefits.

If interest rates rise next year, Stephanie Baxter finds it will not be the answer to schemes' funding troubles.

The monetary policy committee (MPC) of the Bank of England (BoE) has voted eight to one to keep rates at 0.5%.