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Written question asked by Jim Cunningham (Labour) on Wednesday, 20 July 2016, in the House of Commons. It was due for an answer on Monday, 5 September 2016 (named day). It was answered by Marcus Jones (Conservative) on Monday, 5 September 2016 on behalf of the Department for Communities and Local Government.

Local Government: Pensions

Question

To ask the Secretary of State for Communities and Local Government, if he will publish guidance for local authority pension schemes on investment in arms companies producing banned munitions; and if he will make a statement.

Answer

Investment decisions in the local government pension scheme are the responsibility of the 90 designated administering authorities in England and Wales and must be taken on the basis of expert advice and in compliance with the Scheme’s regulatory framework. Since 2000, pension fund authorities have been required to publish a statement of investment principles, including their policy on the extent to which social, environmental or ethical considerations are to be taken into account in the selection, retention and realisation of investments. The regulations also require that each statement is published locally.

We have no immediate plans to change these existing obligations, but will keep them under review.

Secondary information

Type
Written question
Reference
43617
Session
2016-17
Grouped for answer
Yes
Transferred
Yes
Subjects
Cluster munitions Local government Pensions Pension funds
Link
View this Written question on www.parliament.uk