UK - Nearly half of the investments made on behalf of the Privy Purse Private Estates Pension Fund fail ethical tests, research by financial website Citywire claims.
Out of 42 shares that the fund holds, 23 fail one or more ethical investing criteria – with large investments being held in British American Tobacco, British Petroleum and GlaxoSmithKline. The scheme also has investments in GKN – a company that makes parts for military aircraft.
Schroders manages the fund on behalf of the scheme which provides pensions for royal butlers, footmen, cooks and gardeners.
By Jonathan Stapleton
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
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