The law imposes a duty on trustees and/or employers to inform The Pensions Regulator in writing when certain events, known as “notifiable events”, occur. The aim is to reduce the risk of the circumstances which may lead to compensation being payable from the PPF. It may also improve the protection of members’ benefits.
Trustees should always be alert to notifiable events as they must be notified as soon as reasonably practicable via a standard form on The Pensions Regulator’s website. The Regulator believes that notifiable events should be an agenda item at every trustees’ meeting, perhaps to keep them at the forefront of people’s minds.
Information about the type of events that need to be notified (and by whom) can be found on The Pensions Regulator’s website www.thepensionsregulator.gov.uk/en/document-library/codes-of-practice/code-2-notifiable-events.