Local Government Pension Scheme Please Sign The Parliamentary Petition

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The government wants to use the money in your pension funds to invest in their infrastructure projects. This potentially puts the money that should be used to pay your pensions at risk. There has been no debate in parliament about this, but by signing this petition started by Unison, we can try and make sure there is https://petition.parliament.uk/petitions/125475/signatures/new

The text below describes the petition.

Debate in the House the Local Government Pension Scheme Investment Regulations

5 million people rely on the LGPS to pay their pensions. Government wants powers over LGPS investment funds, but they could gamble away members’ money on infrastructure projects. This is not allowed in any other UK scheme, including the MPs'. The LGPS must be invested in members’ best interests.

Parliament must debate this issue and make the government accountable for these powers of intervention as any such direction may breach the law. Specifically Article 18 paragraph 3 of the EU Directive 41/2003 Institutions for Occupational Retire Provision: “Member States shall not require institutions located in their territory to invest in particular categories of assets.”