Brent Pension Board Approves Updated Training Strategy Amidst Reforms
The Brent Pension Board has formally adopted an updated training strategy designed to ensure its members and officers maintain the necessary knowledge and skills to effectively manage the borough's pension fund.
The revised strategy, approved at a recent meeting, aligns with the government's 'Fit for the Future' reforms and new Local Government Pension Scheme (LGPS) governance guidance introduced in June 2026. These reforms strengthen requirements around the knowledge, skills, and understanding of those overseeing pension funds, and were primarily driven by the need to enhance governance and training across the LGPS.
Key changes introduced by the updated strategy include:
- Member-led training records: Board and committee members are now required to record their own training, ensuring a personal commitment to ongoing professional development.
- Mandatory induction training: New members must complete induction training within three months of their appointment. This training will cover the role of the Fund, Pension Board, and Brent Council as the Administering Authority, including funding and investment matters.
- Annual training needs analysis: A formal analysis will be conducted each year to identify knowledge gaps and tailor training accordingly.
- Enhanced monitoring and reporting: Training activity will be subject to more rigorous monitoring and reporting, with details to be included in the Fund's Annual Report.
- Formalised use of The Pensions Regulator's toolkit: Members are now formally required to complete the regulator's online training toolkit.
The 'Fit for the Future' reforms, which came into force on 30 June 2026, encompass asset pooling, local investment, and governance arrangements. The new LGPS governance guidance, also introduced at the end of June 2026, specifically strengthens requirements around knowledge, skills, and understanding for those managing pension funds.
The strategy outlines a variety of learning resources, including training sessions, reading materials, e-learning modules, and attendance at conferences and seminars. The Fund has committed to providing the necessary resources, including an annual training budget, to support these requirements.
Sawan Shah, Head of Finance for the Pension Fund, presented the updated strategy, highlighting that it formalises requirements for members and officers to maintain their knowledge and skills in line with evolving LGPS governance guidance. The strategy was previously approved by the Pension Sub-Committee on July 9, 2026.
The Board was asked to note the updated strategy and the requirement to undertake and record appropriate training, which they agreed to endorse.
The updated training strategy includes an annual training needs analysis
and states that the strategy itself will be reviewed every 3 years, and if necessary, more frequently to ensure it remains accurate and relevant.
