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Significant event (k)

There is a significant change to the systems and processes used in running the scheme, or in any person responsible for delivering key services to the scheme.

When to notify us

You must notify us of this event as soon as reasonably practicable. This should be within five working days of you becoming aware of the significant change.

What you need to do

  1. We anticipate the initial notification should be from the scheme’s trustees.
  2. Examples of the significant changes that you should notify us of include the following:
    • Change of scheme service provider such as scheme administrator or investment manager.
    • Key changes affecting any committee members or delegated authorities, eg investment governance committee changes or an individual investment / disinvestment authority limit changes from £100,000 to £10 million.
    • Introduction of any disinvestment terms which impose some form of cost- or time-related restriction on the unit holders impacting a member’s ability to access their fund investment when required.
    • Any changes made to the systems or processes in response to any failures notified under significant event (j).

Completing the notification form

  1. You should provide details of the change in section 3 of the form.
  2. You should provide details of the implications of the event in section 4, including the extent to which your assurance framework assessments will need to be updated to reflect the new systems and processes.
  3. You should provide the rationale for the changes in section 5.
Notify a significant event: form
PDF 631KB , 12 pages

If there is more than one significant event and they are related, you should use one form to notify us. If the events are not related, you should use separate forms. Check what other significant events to notify us about.