How is your pension invested?

We are a wealthy Island and many people have private Pension Funds. We all have some control over how the money in the Pension Fund is invested, and opting for ethical and green investments is both easy and very effective.  

Only those qualified to do so should be giving investment advice. However, please consider giving publicity to the notion that people could raise this idea with their Pension Fund managers.

I had this conversation with my Pension Fund managers a year ago. They were very receptive, and gave me good advice on switching to ethical and green investments that they recommended and met their criteria for suitability. It was all done within two weeks of the initial conversation.

 

Why the contribution is important

One of the biggest steps that an individual can take towards mitigating and halting the effects of Climate Change is through our money - not so much how we spend it, but how we invest it.  Each of us can make a small step towards defunding fossil fuel companies, and all those small steps add up to one big message, saying that these companies have got to change and adapt, or they will die out.

Please look at this website for more information. https://makemymoneymatter.co.uk/

by JuliePearce on February 01, 2021 at 02:13PM

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  • Posted by JaneyD February 01, 2021 at 16:49

    I agree completely - but is it more than just pensions. What about the Government of Jersey's investments and pensions - do we know where our public money is invested?

    It is about any investements, even who we choose to bank with. Do our local high street banks and mortgage providers etc in Jersey invest ethically?
  • Posted by SimonLanglois February 01, 2021 at 17:07

    I agree too and I'm going to check if my pension scheme investments are ethical; the first is due to start paying me in 2 years so not sure where I stand with that.

    All our investments should be scrutinised, although our main ones are our house (eco-build) and our children (perhaps not so 'eco')! ;-)

    Next will be to check if our bank has moved away from supporting fossil fuel industries (oil, gas, coal, etc.) because I don't want the money they hold for me being used to damage the planet.

    On a local level, our Parish of St. Brelade looked into its own investments and found that only a small percentage might fall into the 'damaging' category, and we're hoping they'll set an example and move them to ethical ones. If we all get on to our respective parishes, and the States in general, it's a start.
  • Posted by christen1984 February 01, 2021 at 19:55

    “Divest” campaigns are becoming more common in the US, notably Harvard, where faculties, student unions and other stakeholders pressured Harvard to divest fossil fuel holdings. It is possible to effect change through unity with a clear and simple message.
  • Posted by JuliePearce February 02, 2021 at 09:10

    I understand a lot of work has already been done regarding how the States have invested the massive sums in the Social Security "pot" and that it is now largely ethical, but perhaps the Gov. could confirm this please?

    It is impossible to find an ethical/green bank, such as Triodos, operating in Jersey. The big High Street banks all have investment arms that have no restrictions on investing in fossil fuel companies.

    Simon - it will make no difference if/when your pension is due to pay out. Speak to your provider, and remember, it's your pension, you are the customer!
  • Posted by RussCrowe February 02, 2021 at 12:03

    This comment has been removed by a moderator.

  • Posted by GoJResponse February 02, 2021 at 15:01

    Hi JuliePearce,

    The Government of Jersey have a responsible investment policy which can be found online within their greater investment strategy document.

    I include a link for easy reference, it's here:
    https://statesassembly.gov.je/[…]/r.7-2021.pdf
    It's quite a large document but the policy can be found on page 8-10.

    The policy is more wide ranging than focusing just on Fossil Fuels and is guided by the United Nations-supported Principles for Responsible Investment.

    The policy is not based on a divestment approach, but engagement. This means individual sectors are not specifically excluded but instead Investment Managers must demonstrate how they integrate environmental, social and corporate governance into their investment decisions and how they promote corporate responsibility in any underlying companies in which GoJ are shareholders.
    This is intended to ensure GoJ acts as a good corporate citizen in all its investments, not just in those focused on fossil fuels.

    Thank you for participating in Jersey's Climate Conversation,
    GoJResponse
  • Posted by lisanoel1968 February 02, 2021 at 20:27

    I divested my pension a few years ago which is a positive action to take bur make sure it is a true green pension plan. I have asked and been assured many times that its a green and sustainable investment!!

  • Posted by Laura February 03, 2021 at 23:26

    For anyone interested in this, Tumelo is a great site to open up transparency of where your investments are and also supports you having a say on some business decisions as an investor.
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