MPs calling for pension funds to invest more in Britain have been accused of “double standards” after it emerged that their own retirement fund appears to have a tiny 1.3 per cent of its total assets in UK equities.
While politicians on both sides of the party divide are promising policy changes to boost UK allocations, their own pension fund has been slashing its exposure to Britain, preferring to invest in shares listed overseas.
Accounts from the Parliamentary Contributory Pension Fund show that of its £782 million of total investments, only £10 million was allocated to UK equities as of March 31, 2023. That compared with £433 million, or 55.3 per cent of the total portfolio, in global stocks.
“It’s absolutely a case of double
