Are pension liabilities holding back UK growth?

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People saving into a pension are being hammered by low gilt yields, making it harder to eke out a decent income in retirement. But could gilt yields also be preventing the UK economy from bouncing back?

On the same day that the Office of National Statistics announced UK GDP had contracted a worryingly steep 0.7% in the second quarter of this year, business group the CBI warned that increasing company pension liabilities are harming growth prospects.