Neil Buxton, Technical Specialist - Pension Fund Policy and Governance, presented this report which provided an updated forward plan for the Pension Fund Investment Sub Committee, rolled forward to cover the year ahead. Members of this Sub Committee and Local Pension Board had participated in the National Knowledge Assessment (NKA) in November 2020 and this had provided some feedback to steer future training plans.
Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) noted that the Local Pension Board had requested that only approved minutes of its meetings be presented to the Sub Committee and suggested that, depending on the weight of meeting agendas, these could be circulated for noting. Members agreed this approach.
Members noted that the NKA had shown that knowledge levels were below those of other funds and were advised that the relative inexperience of members was a factor in this result. Officers were working on an induction pack for new members to assist with knowledge in the future. Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) pointed out that training needs would change over time as new topics were brought forward and it was also hoped to be able to make annual use of the NKA if it remained available. New Members to the Board noted that the training support they had received from the Pensions Team was of an excellent standard and thanked Officers for the assistance they had received.
That the Pension Fund Investment Sub-Committee noted the report and the training plan.