The 2023 programme for the Local Government Pension Scheme's three-day Pension Fundamentals training course.
Day one
9.30am – Registration and coffee
9.55am – Chair’s introduction to the day
10.00am – Duties and responsibilities of Pension Committees and Boards
- The legislative framework
- Governance arrangements
- Oversight bodies
11.30am – Coffee break
11.45am – Benefit structure
- The basis of the Local Government Pension Scheme (LGPS)
- Final salary versus CARE schemes
- A tour of the 2014 scheme
13.00pm – Lunch
13.45pm – The legal landscape
- Local Government Pension Scheme (LGPS) specific duties and responsibilities
- Common problem areas
- Wider duties and responsibilities
- What happens when things go wrong?
15.15pm – Coffee break
15.30pm – Good governance
- What does good governance look like?
- Mandatory and desirable policies in the Local Government Pension Scheme (LGPS)
- How strategies and policies assist the scheme manager
16.15pm – Close
Day two
9.30am – Registration and coffee
9.55am – Chair’s introduction to the day
10.00am – Investment framework
- The Management and Investment of Fund Regulations
- Investment Strategy Statement including approach to asset pooling
- Funding strategy statement
10.45am – Investment basics (part one)
The different types of investment classes and how they work
11.30am – Coffee break
11.45am – Investment basics (part two)
- Risk and return
- Sustainability
13.00pm – Lunch
13.45pm – Responsible investment
- Drivers of responsible investing
- Climate change
- Other sustainability linked themes
- How to respond as an investor
15.00pm – Coffee break
15.15pm – The crystal ball challenge
- What is growth?
- The outlook for opportunities and risk over the medium and long term
16.05pm Close
Day three
9.30am – Registration and coffee
9.55am – Chair’s introduction to the day
10.00am – Being a responsible asset owner
- Stewardship
- Cost transparency
11.00am – Coffee break
11.15am – Working together
- How the local pension board assists the pension manager to meet the administration challenge
12.00pm – A view from the bridge
- The role of the responsible government department
- Issues on the radar
12.45pm – Lunch
13.30pm – Valuations
- The purpose of an actuarial valuation
- Assets and liabilities
- How liability calculations work
- The assumptions used
14.30pm – Coffee break
14.45pm – Funding
- The importance of a funding strategy
- Different employers – different characteristics and objectives
- Employer covenants
