Issue - meetings

The item was introduced by Alistair Wickens. The Forward Plan had been updated to include a full governance review at the April meeting. The risk register had been updated to add compliance with the General Code of Practice. The other scores had remained the same. The risk register would be considered in full by the Staff and Pensions Committee in June.

The 2024 National Knowledge Assessment results had been announced and the Fund had performed well. Training for the forthcoming year was now being planned. Valuation assumptions training would take place at 2pm on 7 February, which members would be invited to in due course.

Members noted that the Budget announcement included extending inheritance tax to cover pension death benefits, and a requirement that pension administrators of UK registered pension schemes be a UK resident.

The Chair asked if consideration could be given to including use of artificial intelligence on the risk register.

Regarding some of the training, the Chair said it had generally been useful but there were certain sections where he felt the information lay members were expected to know – such as specific pieces of government legislation and when it was introduced – was not appropriate or relevant.