Biggest provider of workplace pensions to stop investing in tobacco

NEST, the largest provider of auto-enrolled workplace pensions in the UK, has announced that it is to divest all the money it manages for pension savers from the tobacco industry.

The firm says that it currently has around £40 million of exposure to tobacco stocks. This represents about 0.7% of its total assets under management (AUM).

Ask Money: should I feather my NEST?

February 26, 2019

I am thinking of opening a pension fund, and I see the government has set up the National Employment Savings Trust (Nest) scheme. It looks quite good and it’s open to the self-employed, which is what I need. Could you tell me what the drawbacks of the Nest scheme are, compared with other traditional pension funds? For example, I see it doesn’t offer drawdown or the option of an in-house annuity.
Steven Little, by email