Pensions

House of Lords written question – answered at on 29 January 2009.

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Photo of Lord Harrison Lord Harrison Labour

To ask Her Majesty's Government in the light of the Fair Pensions' report Investor Responsibility? UK Fund Managers' Performance and Accountability on 'Extra-Financial' Risks, what steps they are taking to ensure investors in pension funds publish evidence of their social, environmental and governance policies.

Photo of Lord McKenzie of Luton Lord McKenzie of Luton Parliamentary Under-Secretary, Department for Work and Pensions, Parliamentary Under-Secretary (Department for Work and Pensions) (also in the Department for Communities and Local Government)

The law already requires an occupational pension scheme's statement of investment principles to disclose its investment policies. This must include a declaration of the extent (if at all) to which social, environmental or ethical considerations are taken into account in the selection, retention, and realisation of investments.

The Government have also undertaken a consultation on the Myners investment principles. One of the outcomes of that consultation, which ended in June 2008, was the establishment of an investment governance group in partnership with key members of the pensions industry. As part of its main objectives, the group will encourage, influence and promote best practice in investment-related governance.

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