New Clause 1 - Guidance to public service pension scheme managers on investment decisions

Public Service Pensions and Judicial Offices Bill [Lords] – in the House of Commons at 3:45 pm on 22nd February 2022.

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Votes in this debate

  • Division number 190
    A majority of MPs voted in favour of ministers to require managers of new public service pension schemes not to undertake certain investments due to UK foreign and defence policy.

‘(1) The Public Service Pensions Act 2013 is amended in accordance with subsection (2).

(2) In schedule 3, paragraph 12(a), at end insert “including guidance or directions on investment decisions which it is not proper for the scheme manager to make in light of UK foreign and defence policy”.’—(Robert Jenrick.)

This new clause would enable the Secretary of State to issue guidance to those authorities that administer public sector pension schemes, including the local government pension scheme, that they may not make investment decisions that conflict with the UK’s foreign and defence policy.

Brought up, and read the First time.

Question put, That the clause be read a Second time.

Division number 190 Public Service Pensions and Judicial Offices Bill — New Clause 1 — Guidance to Public Service Pension Scheme Managers on Investment Decisions

A majority of MPs voted in favour of ministers to require managers of new public service pension schemes not to undertake certain investments due to UK foreign and defence policy.

Aye: 298 MPs

No: 81 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Absent: 266 MPs

Absents: A-Z by last name

The House divided: Ayes 299, Noes 81.

Question accordingly agreed to.

New clause 1 read a Second time, and added to the Bill.

Two hours having elapsed since the commencement of proceedings on consideration, the proceedings were interrupted (Programme Order, this day).

The Deputy Speaker put forthwith the Questions necessary for the disposal of the business to be concluded at that time (Standing Order No. 83E).