National Delegate Conference 19-22 June 2007

No to pensions contaminated by the blood of others

UNISON will call for an end to investment in the arms trade by pensions funds The Conference debate heard how huge the investment by pension funds is in the arms trade.

All but a few LGPS pension funds hold shares in armaments companies. UNISON will call for the removal of government subsidies to arms companies pointing out that these companies employ less than 0.02% of the UK workforce.

UNISON will mount training for pension fund reps on social, environmental and ethical investment to maximise our bargaining strength on pension fund boards. As a start, UNISON's staff pension fund has successfully screened out any investment in the arms trade and that ensuring ethical investment was a long term project.

Marie Macrae, Fife Local Government Branch, backing the motion, said "The issue of pensions, their protection and performance is a thorny one, one that cannot be ignored nor be taken lightly. It is clear just by looking at me that this is an impending event for me and there are a few more like me, I dare say."

"We know that our pension managers have a legal responsibility to ensure that the schemes perform well financially but we also know that there is a clear moral responsibility to do it ethically. I don't want to receive a pension contaminated by the blood of others. Do you?"

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