- DWP consultation on improving the notifiable events regime—increasing the powers of TPR through regulations
- What is the background to the consultation?
- What does the consultation propose?
- Change to notifiable events
- Additional notification and accompanying statements for certain notifiable events
- What are the implications for pension schemes?
- What are the next steps?
Pensions analysis: The Department for Work and Pensions (DWP) has launched a consultation on strengthening the powers of The Pension Regulator (TPR) in relation to defined benefit pension schemes by improving the scope of the notifiable events regime, introducing draft regulations, and proposing new notices and accompanying statements. The draft regulations set out extended circumstances in which the notifiable events arise, from when information must be provided and how much information is required. The proposed regulations are expected to be finalised alongside an increase in the fines for failing to comply once the consultation closes on 27 October 2021. Written by Stephen Richards, partner at Stephenson Harwood LLP.
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