To ask the Minister for the Cabinet Office, pursuant to the Answer of 14 February 2017 to Question 63244, whether the Parliamentary Contributory Pension Fund (PCPF) Trustee appointed by the Minister for the Civil Service has independently verified the professional advice received by the PCPF Trustee on the long-term risks to financial performance of the PCPF of that fund's investments in the fossil fuel extractive industry.
Answered on
28 February 2017
There is no requirement or expectation for independent verification of professional advice.
Investment decisions within the Parliamentary Contributory Pensions Fund, including consideration of risks arising from investments in the fossil fuel extractive industry, are a matter for the Trustees who receive professional advice regarding decisions about the management of scheme assets.