UK - Socially responsible pension funds are being urged to sell all their investments in arms companies.
The Campaign Against the Arms Trade believes it would be impossible for pension managers to engage with arms companies on social and ethical issues.
The organisation said that all the main church denominations had already sold their investments in the arms industry – and urged the rest of the industry to follow suit.
CAAT coordinator Chris Cole told delegates at the recent Local Authority Pension Fund Forum conference in Bournemouth: “The arms trade increases the likelihood that disputes between countries will lead to armed conflict.”
Others disagreed saying that a pension fund’s role was not to disinvest but to engage with the company so that it behaved better in the future.
PIRC senior researcher Peter Southwood said the threat of scheme disinvestment should only be used as a last resort – not because of a dislike of arms companies in general, but because of a failure to be a responsible company.
He added that much of the arms trade goes to “responsible” governments, which have a legitimate need to defend themselves.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.