Tuesday, 23 February 2010

No arms company holdings in our pensions

John Sharman, Lincolnshire County UNISON branch secretary and a pension fund employee rep has been leading a campaign for the Lincolnshire County Council pension fund to divest itself of the £11m held in arms company shares.

The investments form part of the shares portfolio within Lincolnshire CC’s local government pension scheme, which also invests cash on behalf of local districts and parishes. John Sharman has urged the county to ditch all arms firms from their portfolio saying:

I think we should be guided by ethical principals. We should have no investment in the arm’s trade.

In recent times the pension fund has reduced the holdings in arms companies by £2m. Congratulations to John for this partial victory. We know we can rely on him to be persistently raise this issue until all of the arms company holdings have been divested.

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