Employer duty to disclose information about pensions
Employer duty to disclose information about pensions

The following Pensions guidance note provides comprehensive and up to date legal information covering:

  • Employer duty to disclose information about pensions
  • Requirements to disclose information to trustees
  • Other statutory disclosure requirements
  • Disclosure requirements under the Takeover Code
  • Implied duty to inform staff about the existence of a valuable pension right
  • Liability for negligent misrepresentation

FORTHCOMING DEVELOPMENT: On 11 February 2019 the DWP published its response to the consultation ‘Protecting Defined Benefit Pension Schemes—A Stronger Pensions Regulator’ which followed the government’s White Paper ‘Protection Defined Benefit Pension Schemes’ (19 March 2018). The response set out the measures to be adopted to strengthen the powers of the Pensions Regulator (TPR). Following the Queen’s Speech of 14 October 2019, the government unveiled a Pension Schemes Bill on 16 October 2019 which aimed to implement most of these measures. Among other things, it would have created a secondary notifiable events regime targeting certain employer-related notifiable events in relation to a DB scheme. The nature of these notifiable events were to be prescribed in regulations that had yet to be published and were to include the sale of a controlling interest in a sponsoring employer, the sale of the business or assets of a sponsoring employer and the granting of security on a debt in priority to the scheme. Corporate planners would have had to make a declaration of intent to TPR (copied to the trustees) in relation to such events. For more information on the detail of the changes outlined in the Bill, see News Analysis: Pension Schemes Bill 2019 (Part 1)—strengthening TPR powers and sanctions.
As a result of