24 February 2026
3 min
The end of the current financial year is just around the corner. For many, this is a busy time as accounts are finalised and targets are set for the following year. But for funds in the LGPS, that’s just the beginning.
Funds in the English and Welsh LGPS have many new requirements to prepare for under the Fit for the Future reforms, including new expectations for the knowledge and skill levels of Pension Committee members. Historically, only members of the Local Pension Board have needed pensions knowledge, but that gap is being filled. Committee members will now need a strong understanding of all things pensions (“appropriate knowledge and understanding”, according to the guidance issued directly to funds in December 2025). This will be measured on an individual basis, meaning the days of thinking about skillsets as a collective are ending.
As part of the new training plans being created, over 40 funds across England and Wales will be able to access Hymans Robertson’s LGPS Online Learning Academy (LOLA). This platform is designed to provide users with the information they need for the successful operation of their fund and provides regular reporting on interaction with our courses. This allows officers to keep accurate training logs.
We're currently developing the next evolution of LOLA. More interactive, more dynamic and more engaging. LOLA will cover the training areas identified by the Scheme Advisory Board of:
Pensions legislation and guidance
Pensions governance
Funding strategy and actuarial methods
Pensions administration and communications
Pensions financial strategy, management, accounting, reporting and audit standards
Investment objectives, strategic asset allocation, pooling, and pooling performance management
Risk management
Pension services procurement, contract management, and relationship management
Key skills and behaviours
We’ll also be regularly review the content, making sure it meets the needs of the emerging guidance.
LOLA represents a straightforward way of meeting government expectations when it comes to training both your Pension Board and Pension Committee members.
What about the funds not in England or Wales? The changes the Government are making represent the best practice approach identified from 2020 onwards. Our courses aren’t just focused on the regulations which apply south of the border; they pick out key information on the Scottish LGPS too.
It may well become mandated more widely, so joining the funds already subscribing to LOLA will help you gain a march on potential regulatory change. It'll also ensure you're delivering the best service you can for your members.
To learn more or register your fund to gain access to the LOLA platform, please get in touch.
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.
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