Pensions: Code of practice on notifiable events explained

Pensions specialists at IRS examine the provisions of the Code of Practice on notifiable events, which sets out when employers come under a duty to report certain events to the Pensions Regulator.

The purpose of the duty, part of the new regulatory system for pensions introduced by the Pensions Act 2004, is to assist the regulator in meeting its statutory objective of helping employers avoid financial difficulties that might result in calls on the Pension Protection Fund (PPF) to assist a scheme.

Although the timetable for its introduction was disrupted by the general election, the Code of Practice took effect on 6 April 2005.

  • Early warning system alerts regulator to possible calls on PPF    From IRS journal Occupational Pensions.

  • Code of Practice 02 - Notifiable events (PDF format, 85K)   Download the full text of the Code of Practice, as published on the Pensions Regulator website.

    Also

    Government sets out pensions reporting framework    Read HR & Compliance Centre's January 2005 report on the publication of the draft Code of Practice. No changes have been made to the substance of the draft during the approval process.