Pensions reserve ‘investing in arms trade’

IRELAND’S multi-billion euro pension ‘nest egg’ is profiting from the arms trade and tobacco sales, TDs have warned.

Labour’s finance spokes-woman Joan Burton called for the €15.4bn National Pensions Reserve Fund Commission (NPRFC) to adopt an ‘ethical’ approach to share-holding.

Ms Burton expressed alarm at the type of companies the fund is putting State resources into.