Following the introduction of new governance arrangements for public sector pension schemes on 1 April 2015, members of local pension boards must, by law, have and maintain knowledge and understanding in prescribed areas.
CIPFA and Barnett Waddingham have partnered to offer a bespoke training and support service which provides assessment, training, support and monitoring programmes for Local Government Pension Scheme (LGPS) and other public sector local pension boards and their members.
The service is built around the specific requirements of each local pension board and assisting them to meet CIPFA’s Technical Knowledge and Skills Framework for Local Pension Boards which is available below. It includes the following elements which can be taken in whole or in part.
Assessment and planning
- individual Local Pension Board member knowledge, understanding and skills assessment
- training plan/programme development
- pre-appointment and induction training
- initial area specific training such as: pensions legislation and guidance; policies, procedures and working arrangements; overriding legislation and interacting statutory organisations; investments and funding
- ongoing and subject specific training such as regulatory changes and triennial valuations
- annual refresher training and updates
- member requested training
- bespoke and open courses aimed at retention of knowledge and development of best practice
Support and mentoring
- ongoing Local Pension Board member mentoring, coaching and support
- BWebstream document access and storage system
- training and support materials
Monitoring and reporting
- ongoing individual Local Pension Board member assessment
- monitoring Local Pension Board member training and development, attendance and progress, maintaining records and reporting