LGPS online learning academy: future proofing your training

Those involved in the Local Government Pension Scheme (LGPS) - fund officers, committees and boards - face increased scrutiny and evolving expectations. To meet the emerging legislative requirements, such as those from the Fit for the Future consultation which impacts English and Welsh funds, it’s more important than ever for individual stakeholders to have the right knowledge and understanding to manage the scheme confidently and effectively.

Why skills and expertise are essential

The decisions made by LGPS funds have a direct impact on scheme members, employers, the wider community and the UK economy. Recent changes in pension legislation and greater regulatory oversight mean LGPS stakeholders must be ready to respond to new requirements and risks. And of course, they still need to manage the day-to-day effectively and as efficiently as possible.

Having the necessary skills within the group helps a fund:

• Demonstrate compliance with legislation and regulatory codes
• Provide the best possible service to scheme members and participating employers
• Make informed decisions that balance risk and long-term sustainability to achieve the best possible outcomes
• Respond proactively to political and economic changes

Training engagement starts with understanding the learner

The most effective learning programmes are built around user needs and preferences, creating an inclusive learning environment that engages people in ways that suit them. Over the years, we’ve listened closely to feedback from fund officers, committee members and boards; investing in what matters to them.

People learn in very different ways - some prefer concise videos while others benefit from interactive quizzes or live discussions. Designing with the learner at the heart of what we do means that our approach is flexible, accessible and always improving.

With this in mind, we’re upgrading our LGPS online learning academy (LOLA) in the new financial year. This will include:

• Shorter, more accessible training videos
• Simpler navigation with a new user login page
• Multiple ways to interact with learning material, including text, videos, flip boxes, charts and quizzes
• Responsive technology that adapts to any device - computer, tablet or mobile
• Continued focus on emerging issues and live training events

Training leads to better outcomes

Training isn’t just about sharing information. It’s about building a culture of continuous improvement and shared responsibility to deliver positive outcomes. Effective training is at the heart of good governance. When everyone is well-trained, they can:

• Understand complex pension issues and regulations
• Communicate clearly and confidently with colleagues and stakeholders
• Make informed decisions efficiently and collaboratively, reducing the risk of errors or delays

Over half of LGPS funds – and over 1,300 people – subscribe to LOLA. We’ve seen, first-hand, the wide-ranging benefits of helping build knowledge among stakeholders to provide effective scrutiny and management of their funds.

Listening, learning and refining: a trip down memory lane

LOLA was created to help LGPS funds meet their requirements for stakeholder knowledge and understanding. Its programme is fully aligned with pension regulations and the expectations of The Pensions Regulator (TPR) and the Government. Our specialists have continued to develop the programme, with two major iterations:

• LOLA version 1.0 introduced on-demand training videos covering five core topics, plus current issue videos, jargon busters, knowledge checks and training progress reporting.
• LOLA version 2.0 expanded to 8 topics, added live training, enhanced progress reporting and allowed funds to add their own training material and modules. This version was shaped by feedback from our National Knowledge Assessment.

Preparing for tomorrow, today

We’ll keep a close eye on legislation working its way through parliament to make sure the new and improved LOLA platform is ready to cover the latest key requirements.

What won’t change is our commitment to making LOLA as valuable as possible for learners, so everyone is prepared for whatever the future brings and capable of delivering a successful and sustainable LGPS for all stakeholders.

If you have any questions about the upcoming changes to LOLA, or want to find out more about how we can support your learning journey, please get in touch. We’ll be sharing more information as we close in on the launch of the updated version, so watch this space!

 

Important information

This blog is based upon our understanding of events as at the date of publication. It is a general summary of topical matters and should not be regarded as financial advice. It should not be considered a substitute for professional advice on specific circumstances and objectives. Where this blog refers to legal matters please note that Hymans Robertson LLP is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Please read our Terms of Use - Hymans Robertson.