Government sets out pensions reporting framework

The Government has issued a draft Code of Practice setting out when employers will be under a duty to report certain events to the Pensions Regulator from May 2005.

Under the Pensions Act 2004, trustees of pension schemes and employers sponsoring such schemes will have to report 'notifiable events' to the new Pensions Regulator. These include: a significant reduction in scheme membership; any decision by the employer to cease to have a place of business in the UK; and the conviction of a senior officer or partner of the employer for an offence involving dishonesty.

This is the second of 10 Codes of Practice to be issued under the Pensions Act 2004. The first concerned new duties to report breaches of pensions law.

Views on the draft Code are requested by 4 March 2005.

  • Consultation continues on Pensions Act 2004 Code of Practice   Read a summary of the consultation paper on the Department for Work and Pensions website.

    Also .

    Preparations in hand for Pensions Regulator: codes, structures and training planned   A considerable amount of work has already been undertaken to ensure that the correct systems and structures are in place in time for the introduction of the new Pensions Regulator in April 2005.

    Pensions: the basics   XpertHR's employment law reference manual has legal guidance on pensions.