Oral Answers to Questions

Debate between Anna Dixon and Torsten Bell

Tuesday 4th November 2025 Commons Chamber

[Anna Dixon (Shipley) (Lab)]

4. What steps she is taking with pension providers to help increase regional economic growth.

[The Parliamentary Secretary to the Treasury (Torsten Bell)]

At the heart of this Government’s pension reforms is the goal of bigger and better pension schemes. We are legislating for that in the Pension Schemes Bill by requiring all local government pension scheme assets to be pooled next year, and multi-employer defined contribution schemes to have at least £25 billion-worth of assets. This reform agenda will deliver returns for savers and ensure that schemes have the scale required to invest in productive assets across the country.

[Anna Dixon]

Many of my constituents have assets in the West Yorkshire Pension Fund, which manages more than £19 million. I am concerned, however, that some of the fund’s investments are concentrated in sectors that cause harm, such as the fossil fuel industry. Does the Minister agree that the West Yorkshire Pension Fund could invest in socially valuable activities, such as the regeneration of the town centre in Shipley and social homes?