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ARTICLE · 23 SEPTEMBER 2021

New Pensions Regulator Notification Requirements For DB Scheme Employers

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The government is consulting on regulations that (a) make changes to the list of employer notifiable events and (b) prescribe the events affecting a DB scheme employer

United KingdomEmployment and HR
Andrew Block
Andrew Block
Beverly Cox
Beverly Cox
Beth Brown
Beth Brown
Katherine Carter
Katherine Carter
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The government is consulting on regulations that (a) make changes to the list of employer notifiable events and (b) prescribe the events affecting a DB scheme employer in respect of which a notice and accompanying statement (often referred to as a "declaration of intent") must be given to the Pensions Regulator ("TPR") and the scheme trustees. The regulations are intended to come into force on 6 April 2022.

In addition, regulations have been laid before Parliament that will bring the majority of TPR's new powers and sanctions under the Pension Schemes Act 2021 (the "Act") into force on 1 October 2021.

Changes to the list of employer notifiable events

The regulations:

  • Remove wrongful trading from the list of employer notifiable events because this requirement is ineffective as a director guilty of wrongful trading is unlikely to admit this to TPR. This amendment does not intend to diminish the serious ness of wrongful trading but rather reflect reality.

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