Bola Tobu, Investment and Treasury Manager presented a report which gave an outline of their work plan and detailed the reasons for a training and development programme for the Pensions Board members.

The report explains 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 of the Pensions Board.

Members were advised that a training needs analysis had been circulated to individuals. The analysis will highlight any knowledge gaps and also inform what trainings were available to fill the void. The Board agreed that Officers should consult members of the Pensions Board and Pensions Committee on what training courses they found to be useful and that a training plan be devised during the forthcoming weeks and is ready and finalised for the new municipal year.

Members held a discussion about former training facilitators and were advised that State Street were structuring a training programme. LGA Fundamental, LPF Seminars and Chatham House were noted for providing and hosting excellent courses and training. Members commented about Away Days and agreed that more of them should take place. Officers advised the Board that training provided will be in various formats which include 1-2-1 sessions, presentations, seminars and conferences. Members were reminded that training was part of the Regulators Toolkit and that this was considered as a low risk.

The Board noted that they had an Independent Chair and commented that that both the Pensions Board and Pensions Committee were beacons for good practise in terms of development and progress of their Members. The Chair suggested that the Pensions Regulator be invited to attend a meeting.

Officers were reminded that the Pensions Board current meeting times may need to be reviewed in the new municipal year. The Board noted that their membership was to change.

RESOLVED

1.    Note the current training and development policy for the Tower Hamlets Pension Fund attached as Appendix 1

2.    Note and review work plan (attached as Appendix 2) is in line with core functions as outlined in the Tower Hamlets Pension Board terms of reference (attached as appendix 3)

3.    Note and review the training log (attached as appendix 4) for addition of identified training needs or changes to the proposed schedule training 

4.    The Work Plan be reviewed in the next 18 months; and

5.    Officers be informed of  any duplication found in the Work Plan