Barnett Waddingham and the Chartered Institute of Public Finance & Accountancy (CIPFA) have partnered to provide support and training for pension board members in the local government pension scheme (LGPS).
This follows the introduction of governance rules that require each of the scheme's 89 funds to establish a local pension board to assist the S101 pension committees that sit under administering authorities.
CIPFA and Barnett Waddingham now offer bespoke assessment, training, support and monitoring programmes which are built around the requirements as well as the specific rules of each board. Board members must by law have and maintain knowledge and understanding in prescribed pension areas.
Barnett Waddingham partner and head of public sector consulting Graeme Muir said: "I'm delighted to announce our partnership with CIPFA. The knowledge and skills framework will be an invaluable tool for all local pension boards, while our joint training initiative will help pension boards achieve the standards set down within the framework."
CIPFA pensions technical manager Nigel Keogh said: "A high level of knowledge and skills, maintained and monitored over the term of office of a local pension board member, is key to the success of this important new facet of LGPS governance."
Barnett Waddingham recently contributed to CIPFA's technical knowledge and skills framework document for local pension boards, which will be involved with regulatory compliance, and other legislation relating to governance and administration.
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