News & Blog

Government's LGPS investment rules thrown out by court

  • June 22, 2017

Rules on Local Government Pension Scheme (LGPS) investments were deemed unlawful in the High Court.


The investment guidance, issued last September, requires LGPS funds to have policies on environmental, social and governance (ESG) issues but also added they could not pursue policies contrary to central government foreign and defence policy.

The guidance said "pension policies to pursue boycotts, divestment and sanctions [BDS] against foreign nations and UK defence industries are inappropriate, other than where formal legal sanctions, embargoes and restrictions have been put in place by the government" and funds could not "pursue policies that are contrary to UK foreign policy or UK defence policy".

To read the full article click here