http://www.bbc.co.uk/news/business-20946476

The article above shows the effect that the BoEs Quantitative Easing (QE) policy has had for pension funds. By undertaking QE the yield on government bonds (Guilts) has fallen. This is because the Bank of England purchases Guilts off of financial institutions (banks, insurance firms, pension funds, hedge funds, private investors, equity funds etc) which then go and buy other assets, which may include more Guilts (the reason institutions like buying government debt, despite the yield being so low, is because they are considered very safe, the UK Government currently has an AAA credit rating, and because if necessary it can print money, as it has its own central bank, the risk of it defaulting is considered low). [...]