Home > Uncategorized > Council pension fund invested in tobacco group | This is Scunthorpe

Council pension fund invested in tobacco group | This is Scunthorpe

Council pension fund invested in tobacco group | This is Scunthorpe.

East Yorkshire fund urged to divest by Council leader of North Lincolnshire.

The council is quoted as saying the pension fund and the council are separate entities.  I have noticed this line from a few councils lately.  They also say they have to invest the fund in the best interests of the schemes beneficiaries.

What if the beneficiaries don’t want to be invested in tobacco?  Why don’t they ask the pension fund members whether they are happy investing in companies that sell products that kill 1175 East Riding people a year and cost the local economy vastly more than the income the council receives from tobacco stocks?

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