Co-operative Insurance says around half of its new pension investors are putting money into ethical funds.
Figures reveal 47 per cent of new CIS personal pension customers are investing in funds that invest in ethical companies. The statistics show men are 17 per cent more ethically motivated than women when arranging their pension investments. The average 35-year-old male is most likely to invest in an ethical pension which includes companies that do not invest in armament dealers, tobacco industries, nuclear power or animal testing.
The Co-operative Insurance individual personal pension allows people to invest in a package of socially responsible investment funds. Clients can choose one of six ready-made portfolios depending on their attitude to risk.
Head of pensions Danny Hurley says: “Over the last 20 years, the growth in ethical investment has been immense. When it comes to making a major financial decision like choosing a pension people are becoming more conscious of the impact that they can have on the environment by choosing their investments in a socially responsible manner.”