The Avon Pension Fund is consulting 20,000 randomly selected members to decide whether to continue its £18 million investment in the defence and aerospace sector. The £6 billion fund, which manages pensions for around 100,000 individuals from local government, education, and charity workplaces across the former County of Avon, is seeking member input following concerns raised by campaigners and fund members.
This initiative comes after pro-Palestine protestors called on the fund in December 2024 to divest from companies supplying weapons used by Israel in Gaza and those profiting from illegal settlements in the West Bank. In March, the pension committee resolved to consult members on possibly withdrawing all investments from aerospace and defence companies, citing legal complexities tied to specific conflicts.
Toni Mayo, a children’s social worker and fund member, voiced her opposition at the March meeting: “The money that I have earned by trying tirelessly, at grave personal cost, to keep children safe is being used to fund the weapons that kill my brothers’ and sisters’ children abroad. For every day I work, I’m unwillingly contributing to genocide and war.”
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Local councils including Bristol City and North Somerset, whose employees are fund members, have supported motions urging divestment from arms firms linked to the conflict in Gaza. Currently, £18 million—about 0.3% of the fund’s assets—is invested in aerospace and defence via the Brunel Fund, a diversified passive equity pool spread across thousands of companies.
The Avon Pension Fund highlights its commitment to green investments aligned with the 2015 Paris Agreement and already excludes businesses involved in controversial weapons such as cluster munitions and chemical arms, as well as companies breaching UN guidelines on human rights. Notably, Lockheed Martin and RTX are excluded on these grounds.
The survey, running until September 22, targets a statistically representative sample of members aged across all demographics. Emails are being sent between September 1 and 16 to those selected, urging them to respond. Pension staff and board members are excluded from participating. The estimated £25,000 cost of this survey is considered a cost-effective approach compared to surveying the entire membership, which would have cost around £75,000.
To ensure impartiality and data integrity, independent research firm Prevision Research—specializing in complex public policy surveys—is conducting the study. Responses will be anonymized, confidential, and weighted to accurately reflect the demographic makeup of the fund’s membership.
Survey results will inform the Avon Pension Fund Committee’s final decision on whether to continue its aerospace and defence investments. The committee expects to publish findings later this year.