Millions of social workers, teaching assistants and other council employees have over £3,000 each in coal, oil and gas investments as part of their pension pots - assets that are at risk of falling in value as the world tackles climate change.
The first analysis of the £231bn in assets held by 4.6m local government workers through their pensions schemes has revealed a total of £14bn in fossil fuel investments, with the Greater Manchester and Strathclyde schemes having the largest holdings.
This news will understandably be very concerning for anyone with this type of pension going through a divorce now. Please contact us on 01865 781181 if you would like to speak with someone in our team about this issue.
“We don’t want fossil fuels to destroy our pensions, and we don’t want our pensions to destroy everyone’s future,” said Jane Ivimey, a local authority pension-holder and member of the Fossil Free Oxfordshire divestment campaign.