The Pensions Regulator

Notifiable events

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Who is required to notify?

Trustees are required to notify, in writing, in respect of pension schemes. These are known as scheme-related events.

Employers are required to notify, in writing, in respect of their pension schemes. These are known as employer-related events.

Notification is only required in respect of those schemes and their employers which could be eligible for Pension Protection Fund compensation and which pay the Pension Protection Fund levies. Generally speaking this means all defined benefit schemes and the defined benefit element of hybrid schemes.

Notification is not required in respect of schemes and their employers which are wholly money purchase or which are ineligible for the Pension Protection Fund because, for example, they are in the public sector.

Exceptions to the requirement to notify

Not all events are notifiable provided certain conditions are met at the time the notifiable event occurs.

One condition applies to a number of scheme-related and employer-related events: notification is not required if the scheme in question is funded above the Pension Protection Fund buy-out level (or the MFR if no Pension Protection Fund-based valuation is available), and there has been no report to the Pensions Regulator of a failure to adhere to the schedule of contributions.

Two conditions apply to specific events: decisions by trustees resulting in non-payment of debt and changes in an employer's credit rating.

In deciding whether to notify, trustees and employers should consider three questions:

1. Has a notifiable event occurred?
2. Is notification of the event subject to conditions (see table of conditions)?
3. Are all the conditions met?

If a notifiable event has occurred, you should notify unless the answers to questions 2 and 3 above are 'yes'.

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