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BAE Systems Pension Scheme: recommendations

RI policy, implementation and monitoring

With no SIP, Annual Report or policy documents available publicly, or otherwise disclosed to FairPensions, it is unclear whether the BAE Systems Pension Scheme has any detailed RI policy, and if so, whether it pays careful attention to policy implementation and performance monitoring. If this is not the case then we would recommend that steps are taken which include:

  • Establishing a detailed RI policy
  • Establishing clear measures to ensure fund managers' performance on ESG issues is carefully monitored and regularly assessed.
  • Incorporating assessment of the capacity of fund mangers to carry out the Scheme's ESG policy into its fund manger selection process, and into its investment management agreements
  • Consideration of membership of the UN PRI, both for itself and as a screen re fund manager selection

Transparency

We would recommend a dedicated public section for RI on the Scheme's website, to include disclosure of:

  • The Statement of Investment Principles
  • Detailed statements of RI policy, policy implementation and performance monitoring
  • Full voting records and summary voting analysis
  • Specific and detailed ESG engagement strategy, and reporting
  • The Scheme's annual reports, which should include a detailed section on responsible investment.

Download BAE Systems Pension Scheme's full scoresheet

If you are a member of this pension scheme, why not email your pension scheme to ask whether they have implemented all or any of these recommendations.

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