Agenda item

The Committee considered a report of the Corporate Director of Resources which set out a codified training approach that the Fund would follow and sought approval of the Fund’s Governance Compliance Statement (for copy see file of Minutes).

The Head of Pensions (LGPS) noted that outline training policy mirrored that of the Local Pension Board and explained that having a single document for assurance was beneficial.  He added there would be an induction toolkit, LGPS Online Learning Academy (LOLA) training made available and there would be the opportunity to attend the BCPP Conference.  He noted that there would be individual training sessions held ahead of investment decisions on that specific area, as well as any training required as a result of any regulatory changes as required.

Councillor M Porter felt the report and proposed training was very good and included a lot of detail.  She asked as regards the date of the BCPP Conference. 

The Head of Pensions (LGPS) noted for 2024 it was brought forward from to July.  Milo Kerr, of BCPP, noted the dates were 18-19 July.  The Chair added it was very beneficial to attend, with the Head of Pensions (LGPS) noting that there had been very positive feedback from those Members who had attended previous conferences, and highlighted the calibre of speakers the event attracted, with Mark Carney, former Governor of the Bank of England having spoken at the conference last year.  M Kerr noted that a comparable speaker had been arranged to speak at this year’s conference. 

The Chair noted that the Committee had been keen to get a training programme in place and thanked the Head of Pensions (LGPS) for his work in this regard.

Resolved:

(a)     That the Committee note the report;

(b)     That the Committee agree the Training Requirements set out in Table (1) of the Outline Training Policy, noting the further information provided in Table (2);

(c)      That the Corporate Director of Resources be authorised to publish details of training activity and attendance at Committee meetings;

(d)     That the Corporate Director of Resources be authorised to finalise the wording of the Compliance Statement, taking into account where appropriate both professional advice as well as comments received from employers, and publish a final version by 31 March 2024, and;

(e)     That the Corporate Director of Resources be authorised to finalise the wording of and publish and maintain a Pension Fund Training Policy for Members of both the Committee and Local Pension Board, following appropriate consultation and feedback from the Local Pension Board.