Code of Practice on Public Sector Pensions Finance Knowledge and Skills (2013 Edition)

All public sector organisations charged with the financial management of pension schemes will be aware of their growing complexity. Pension scheme financial management in the public sector demands appropriate skills, including knowledge of financial markets and products, financial services procurement, pensions accounting and auditing, actuarial practices, investment performance and risk management, and awareness of the implications of legal and regulatory requirements.

Consequently, the case for a code of practice that embeds the requirements for acquiring, retaining and maintaining appropriate knowledge and skills has never been stronger.

Following the successful introduction of the Code of Practice on Public Sector Pensions Finance Knowledge and Skills in 2012, this revised and updated edition builds on both user experience and the changes set out in the Public Service Pensions Act 2013.

Every public service organisation should secure appropriate training, having assessed the professional competence of both those involved in pension scheme financial management and those with a policy, management and or oversight role. This now includes those individuals selected to serve on Local Government Pension Scheme pensions boards.

This Code is available in bookmarked PDF format.