This is only part of the problem.
The next Big Bang will be in Retirement funds that are not able to achieve anywhere close to the returns they need to meet their obligations due to this interest rate suppression
What this means is some time in the very near future the shortfall will have to be made up. In the case of defined benefit plans, today found mostly in the government sector, taxes will have to be raised to cover them.
This is very deflationary for the economy.
Retirement pensions (in government) were more like something in a Rico case. Most should never been allowed since they were way more than what the taxpayer who pays this can get themselves in real life.
Secondly, no one should rely on interest for a pension. They should have only quoted contributions and let any interest be an unexpected bonus.
These days the only way to make money is in a pay check.