Pension funds call for longer bailout as Bank of England is set to pull the plug on emergency £65 billion bond-buying scheme to tackle market chaos

• The intervention from the bank is due to end on Friday after being extended
• It originally said it would buy up to £65billion of bonds, and £5billion a day
• Pension funds are said to be worried with a large amount of ‘nervousness’ about

Pension funds are bracing themselves for the Bank of England to pull the plug today on a £65billion bailout designed to protect them from bond market chaos.

The Bank stepped in with the emergency help two weeks ago after a sell-off in government bonds, known as gilts, left the retirement schemes scrambling for cash. 

It said it would buy £5billion in bonds a day – since beefed up to £10billion. 

The intervention is due to end today, but some funds have been asking for more time to sort out their finances.

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