SNP Councillor: Pensions 'to make as much money as possible'

Many thanks for your e-mail. As I am sure you are aware, I voted for the Lib Dem/SNP amendment at the full council meeting last Thursday. While I commend the sentiment behind the Greens motion, we have to look practically at what can be done. The Pensions & Trusts Committee exists to make as much money as possible for pension holders and by investing only in ethical companies you would not necessarily represent the pension fund members. It was also pointed out at the council meeting that ethics is extremely subjective and that the council is required by statute to gain the best return for pensions fund members, not to invest in ethical companies. The validity of point 6 in the motion was also disputed as Cllr Chapman claimed she had been told by council officials that this was the case while other councillors had been given different information. There are a number of examples of councils (including Edinburgh) being taken to court under circumstances like these so while the sentiment should be applauded, it is not a viable way of changing anything. As a result of the above points I decided to vote for the amendment.

Councillor David Beckett (SNP)
Ward 11 - City Centre
Room 10/28
City Chambers
High Street
Edinburgh
EH1 1YJ
Phone - 0131 529 3271
Fax - 0131 529 4080