COUNCILLORS who oversee public sector pension funds have moved to distance themselves from tobacco and arms funding by suggesting investment decisions are out of their hands.
COUNCILLORS who oversee public sector pension funds have moved to distance themselves from tobacco and arms funding by suggesting investment decisions are out of their hands.
Custom byline text:
Ben Riley-Smith
Politicians said they were duty-bound to maximise returns on their members' money.
One warned there was a danger pension members could sue if trustees had not maximised returns.
The Herald reported yesterday that nine of Scotland's 11 Local Government Pension Scheme (LGPS) funds have more than £220 million invested in the tobacco industry and firms that produce arms despite Government guidelines that require ethical and social considerations to be taken into account.
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