Local Government Pension Scheme
The question
To ask the Secretary of State for Housing, Communities and Local Government, what guidance his Department provides to local authorities administering Local Government Pension Scheme funds to assist them in ensuring their investments are compliant with the UK’s duty not to aid or assist serious breaches of international law.
Answered by Alison McGovern
Local Government Pension Scheme administering authorities set the investment strategies for their funds, and must include how social, environmental and corporate governance and responsible investment considerations are taken into account. Authorities must have regard to their fiduciary duty to scheme members and employers when setting their investment strategy and must follow relevant legislation and guidance.
Administering authorities are legally required to comply with UK sanctions, including restrictions on dealings with designated individuals, entities, and countries.
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