Politics & Council · Wiltshire-wide
Wiltshire Pension Fund faces calls to review arms industry investments
By Swindon Now Editorial Team · Published
More than 90,000 members of the Wiltshire Pension Fund may be consulted on the fund's investment stance regarding weapons manufacturers.
The Wiltshire Pension Fund, which manages a £3.8 billion portfolio for over 90,000 public sector workers and pensioners, is facing renewed pressure to reconsider its investments in the arms industry. Campaigner Alex Hall has formally requested that the committee overseeing the fund hold a vote on divestment from weapons manufacturers and accelerate a planned survey of scheme members.
The pension scheme is administered by Wiltshire Council and encompasses 162 participating employers, including local town and parish councils, schools, colleges, and various community organisations across the county. Currently, the committee has a survey of pension scheme members scheduled for early 2027.
In a submission to the Wiltshire Pension Fund Committee, Mr Hall argued that the fund should apply the same principles to defence companies as it currently does to its fossil fuel holdings. He suggested that the existing distinction in policy between so-called controversial weapons—which the fund already excludes—and conventional weapons becomes difficult to justify when those weapons are deployed against civilian populations.
The committee, however, maintained that any shift in investment policy is a complex undertaking. In their response, officers noted that the committee had already conducted a comprehensive review of the fund's exposure to aerospace and defence companies as recently as November 2025. They emphasised that any future decision must be balanced against a range of factors, including fiduciary duties, regulatory requirements, potential financial impact, and the practicalities of implementation.
Furthermore, officers stated that any move to divest would require significant support from scheme members and employers. The current administrative position remains that views on such investments must be canvassed through the established survey process, which is not due to take place for several months.
The debate occurs against a backdrop of broader investment policies already in place. The fund has made significant progress in its climate-related initiatives, reporting that its listed equity portfolios have been decarbonised by 57 per cent since 2019. Additionally, the fund has reached a target of allocating 30 per cent of its assets to sustainable investments. While divestment from fossil fuel companies remains a component of this wider strategy, the committee continues to weigh the distinct challenges and arguments surrounding the defence sector.
Source: Wiltshire Times · View original