Jim Cunningham – 2016 Parliamentary Question to the Department for Work and Pensions

The below Parliamentary question was asked by Jim Cunningham on 2016-07-20.

To ask the Secretary of State for Work and Pensions, if he will review the powers of UK pensions schemes to indirectly invest in companies linked with the manufacture of cluster-munitions.

Richard Harrington

Trustees and managers are responsible for acting in the best interests of beneficiaries, including the investment of members’ funds. They must, under existing obligations, prepare a statement of investment principles. This must set out the extent to which social, environmental, or ethical considerations are taken into account in the selection, retention, and realisation of investments.

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