Campaigners have seized on ‘proof’ that a pension fund for people in Reading is being used to invest in companies used to support Israeli ‘occupation’ of Palestinian territories.
The Berkshire Pension Fund administers the Local Government Pension Scheme (LGPS) on behalf of over 300 employers in the county, including Reading Borough Council.
A freedom of information (FOI) request revealed that the pension fund has invested in BAE Systems PLC, Safran SA and GE Aerospace, companies which are used by the Israeli Defence Forces.
The FOI was submitted by the East Berkshire Palestine Solidarity Campaign (PSC) in September last year.
The Israeli government has purchased artillery ammunition and military aircraft displays from BAE Systems used in the F-35 aircraft.
The PSC website states Safran is a French multinational company that has provided equipment including fingerprint scanners, used by the Judea and Samaria police force in the ‘occupied’ West Bank of the River Jordan.
Finally, General Electric (GE) Aerospace parts make up the military aircraft used by the Israeli Air Force.
The FOI response clarified that the fund does not hold any investments directly, as all assets invested are managed through pooled investment vehicles run by Local Pensions Partnership Investments.
The fund has an interest in the three companies listed through the LPPI Global Equities Fund.
The investment of the Berkshire Pension Fund has been highlighted after a commotion was caused during a full meeting of Reading Borough Council over a question about ‘ending the UK’s arms trade with Israel’ by councillor Rob White, leader of the opposition.
A witness claimed the public gallery at the meeting on January 28 was ‘packed’ with people having to stand.
Cllr White (Green, Park) said: “I was disappointed by the lack of action from Reading Council on this.
“Green councillors will keep on campaigning for justice for all Palestinians.”
Rachel Luxton, Chair of the East Berkshire PSC branch said: “Cllr White did well to raise this important issue.
“We have been asking the local authorities in our area why they continue to allow their investment vehicle to use companies who support the Israeli economy and arms trade whilst there is a ‘plausible’ genocide and war crimes taking place.”
There is currently a fragile ceasefire between Israeli and Palestinian forces.
However, there have been threats that Israeli forces will break the ceasefire if more hostages are not released by Hamas.
Rachel said: “The troubles of the Palestinians are not over, with Donald Trump now saying that he wants the United States to ‘own’ Gaza and displace the population to Egypt or Jordan.”
Oversight of the pension fund is conducted by the Pension Board based at the Royal Borough of Windsor and Maidenhead.
