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Local Government Pension Scheme: Offshore Industry

Asked by Mrs Kemi BadenochConservativeMinistry of Housing, Communities and Local GovernmentTabled Answered 14 October 2024UIN 6384

The question

To ask the Secretary of State for Housing, Communities and Local Government, what assessment she has made of the potential implications for her policies of local authorities divesting their Local Government Pension Scheme assets from the oil and gas industry.

Answered by Jim McMahon

Local Government Pension Scheme (LGPS) administering authorities are responsible for setting the investment strategy of their pension funds. Authorities must take investment decisions in the interests of their members and for the purpose of paying benefits.

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