A coalition comprising over 30 charities and trade unions has launched a campaign urging urgent reform of the UK pensions system to safeguard savers’ retirements, stimulate economic growth, and support a transition to a more sustainable economy. The group’s plea coincides with the UK government’s largest pensions system review in a generation.
The campaign includes a petition delivered to Pensions Minister Torsten Bell, calling for significant changes aimed at delivering decent pensions, funding a just transition to a low-carbon economy, and phasing out investments in fossil fuels, deforestation, and other environmentally harmful industries. The coalition argues that pension funds should invest more in the UK's economy, a move they say could bolster economic growth and align with broader government priorities such as clean and affordable energy and improved housing standards.
One of the campaign’s prominent supporters, filmmaker and activist Richard Curtis, articulated the core concerns: “Greener, fairer pensions are our superpower to protect the future for all generations. We need our leaders to put British savers and climate safety at the heart of the pensions reforms, to make sure our pension money is safely invested and part of creating a thriving planet to live on. There's no point inheriting a pension in a world on fire.”
Actors and public figures have increasingly contributed to raising the profile of greener pensions. The actors' trade union Equity made headlines last year when its £130 million pension fund committed to excluding fossil fuel investments. Well-known performers such as Benedict Cumberbatch, Olivia Colman, and Ambika Mod have been involved in digital campaigns highlighting fossil fuel and deforestation links within UK pension portfolios.
Alex Lawther, an actor known for his work as a BAFTA Breakthrough Brit, reinforced the campaign’s message, saying, “We all need to know that we’re going to have at least two things to live on when we get to retirement—enough money and a safe planet. Our pensions can support that if they're invested in things like clean energy and upgrading our homes. Right now, billions of pounds of our money is still propping up the fossil fuel industry, which is causing extreme weather like floods and storms. This campaign is about telling the government that we want our money to be building a safe future instead.”
Despite the UK having one of the largest pension systems globally, only a small fraction is currently invested domestically. The petition highlights that an estimated £88 billion of pension funds remain invested in coal, oil, and gas, with a further £300 billion tied to companies linked to deforestation. The coalition contends that the ongoing government review is a critical opportunity to phase out investments in such sectors while promoting more sustainable alternatives that support economic and environmental resilience.
Other signatories to the petition include comedian and BAFTA Rising Star nominee Nabhaan Rizwaan, Game of Thrones actress Carice Van Houten, Netflix talents Alex Lawther and Bessie Carter, as well as actors Charity Wakefield and Jo Vanderham.
The Oxford Times is reporting that this campaign represents a focused effort to influence government policy at a pivotal time in the evolution of the UK's pension landscape, with the goal of balancing financial security for retirees with urgent environmental concerns.
Source: Noah Wire Services