Personal Account pensions may be ethical

Pensions minister Mike O'Brien last night revealed he would be pushing to give people the choice to invest ethically with their personal account pensions.

From 2012 all workers will automatically be signed up to a personal account – as the government aids to end the pensions crisis – with the aim of having nine million people saving more or for the first time by 2015.

"Many of those saving in a pension for the first time will be working for small employers, the local garage or the chippy round the corner," said Mr O'Brien at a reception to celebrate National Ethical Investment Week (NEIW).

"We don’t want Personal Accounts to be overcomplicated but do want there to a choice of funds for those who desire it.

"The importance of choice means that, green and ethical investment has been attracting some debate on floor of the House of Commons and beyond.

"Recent research has shown that nearly a quarter of those who could be enrolled in Personal Accounts said they were interested in ethical investment options, often regardless of return."

The minister added the Personal Accounts Delivery Authority would now be consulting on the role of responsible investment in relation to the system.

Welcoming NEIW, Mr O'Brien added: "It marks the beginning of a serious national conversation on how investors can use their money to make our society better.

"And it proves to people that they have the choice to make a difference to the lives of millions around the globe."

Daniel Barnes