Strengthening the Pensions Regulator’s powers: Notifiable events (amendments) regulations 2021
In September 2021, the Department for Work and Pensions (DWP) published a consultation looking for feedback on changes to the notifiable events regime. The regulations clarify what and when trustees and employers will have to report to The Pensions Regulator (TPR), setting out a list of prescribed events.
The PLSA calls on the DWP and TPR to provide more guidance to aid both employers and trustees in understanding when the new notification requirements are triggered. The current regulations suggest judgement will need to be made by trustees to determine at what stage things should be declared, which could lead to inconsistencies as different employers could interpret these events differently.