Issue - meetings
Training and Development For Members
Meeting: 17/09/2015 - Pensions Committee (Item 5)
5 Training and Development For Members - Presented by Bola Tobun PDF 107 KB
Minutes:
The Committee received a report that outlined the need for a training and development programme for Members. The report explained the requirement for good governance of the Pension Fund and the framework of legislation, regulation and guidance which the Fund must comply with and that therefore there is a need for a formal training programme for Members and Observers of the Pensions Committee.
The report also referred to the Chartered Institute of Public Finance and Accountancy (CIPFA) publication “Pensions Finance, knowledge and skills framework, Technical Guidance for Elected Representatives and Non-executives in the Public Sector” (2010). This provided a framework for the training and development of Elected Members and other representatives on public sector pension scheme decision making bodies such as the Tower Hamlets Pensions Committee. As a result of discussions on this report the Committee noted that:
- The former Pensions committee agreed a Training Policy. Since the approval of the Training Policy, training has been provided in the form of presentations to the entire Committee and through opportunities for individuals to attend training courses such as those provided by the Local Government Employers organisation;
- Whilst there are no immediate legal consequences arising from this report it is important that members are trained appropriately so that decisions are made from a sound knowledge base thereby minimising the risk of any legal challenge;
- Training addresses the required knowledge and skills needed for Members to understand their duties and responsibilities as a trustee and how best to fulfil these effectively, efficiently and in accordance with regulatory requirements;
- The training provided by the Tower Hamlets and other Local Government Pension Funds in recent years had improved the knowledge and skills of those who serve on decision making bodies responsible for the Local Government Pension Scheme; and
- There has been a lack of an agreed definition of the knowledge and skills that those who serve on such decision making bodies require. This deficiency has however now been addressed by the local authority accountancy body CIPFA in one of its publication “Pensions Finance, knowledge and skills framework, Technical Guidance for Elected Representatives and Non-executives in the Public Sector” (2010). (Referred to elsewhere in this report as the “CIPFA knowledge and skills framework (2010)”.
Accordingly, it was:-
Resolved
- That the CIPFA “Pensions Finance, knowledge and skills framework, Technical Guidance for Elected Representatives and Non-executives in the Public Sector” (2010) is adopted as the basis for its training and development programme; and
- That a proposed schedule of training and development is prepared and presented to the Pensions Committee.