The Pensions Regulator

Code of practice 05
Reporting late payment of contributions to occupational money purchase schemes

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Reasonable period for reporting to the Pensions Regulator

17. This section sets out what the Pensions Regulator considers to be a reasonable period for trustees to report to the Pensions Regulator. Trustees must make a report within a reasonable period after the due date. The more serious the risk of contributions remaining unpaid, the shorter the reasonable period becomes.
18. The Pensions Regulator considers that a reasonable period for trustees to send reports (electronic or paper-based) of late payments will normally be within 10 working days of identifying that a late payment is material. For example, in the case of non-payment of contributions 90 days after the due date, trustees should report at the latest within 10 working days after the end of the 90 day period, ie 90 days after the due date plus 10 working days.
19. Exceptionally, where there is a current or imminent danger to members' and/or employers' payments unless immediate preventative action is taken, trustees should report by telephone as soon as they become aware of the occurrence. The trustees should then confirm telephone reports in writing, for example by letter or email, as soon as reasonably practicable and in any event within 10 working days.

Reasonable period for notifying members

20. If trustees make a late payment report to the Pensions Regulator, they must also report to members within a reasonable period after the due date. If the trustees do not need to report to the Pensions Regulator, they are not required to report to members. The Pensions Regulator expects trustees to notify only those members in respect of whom contributions are late. Trustees may also notify other members if they choose to.
21. Where trustees make an urgent telephone report to the Pensions Regulator as in 19 above, they should also report the material late payment to the members as soon as reasonably practicable afterwards (unless they have already done so: see 23 below). The Pensions Regulator expects that a reasonable period for trustees to make such a report will be within 30 days of the telephone call at the latest and, where practicable, reports should be made earlier.
22. In other circumstances requiring a report to members, the Pensions Regulator expects trustees to report as soon as reasonably practicable and in any event within 30 days. For example, as noted above, one of the circumstances in which trustees should report to the Pensions Regulator is where contributions are outstanding 90 days after the due date (unless a late payment is deemed material before this point). In this situation the Pensions Regulator considers that a reasonable period within which it expects trustees to make such a report to members (unless they have already done so) will be within 30 days following the end of the 90 day period, ie 120 days after the due date. This is the maximum period normally expected and, where practicable, reports should be made earlier.
23. Trustees can of course report late payment to members earlier than 90 days after the due date if they wish to, whether or not they consider it to be material. This is likely to be their favoured option if, for example, they consider that it may cause the employer to rectify the situation more quickly. If trustees make an early report to members there will be no need for them to make a further report to members within 30 days of the 90 days, although they may wish to keep members informed. They should still make a report to the Pensions Regulator after 90 days unless they have already done so.

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