Pension fund to continue arms trade investments

The Avon Pension Fund has voted to continue investing in the arms industry after a survey revealed only 42 per cent of its members divesting from the sector.

- John Wimperis Local democracy reporter

The fund manages pensions for 135,000 public sector workers across the former county of Avon and has faced pressure to cut ties with companies involved in the arms trade.

Toby Simon, chair of the Avon Pension Fund committee, said: “Committee members recognised this is a difficult and sensitive issue, which is why the committee sought member views through a survey, sought further legal advice, and has taken its time to reach a decision.

“Committee members showed their empathy with the many different and sometimes strongly held views of stakeholders.

“The committee has met and decided its approach, which is to remain invested in the aerospace and defence sector. We recognise some stakeholders will be disappointed with this decision, but the committee believes it is the right decision given the further work undertaken.”