The Pensions Regulator

Code of practice 02
Notifiable events

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Confidentiality

10. The Pensions Regulator acknowledges that some information which is notified may be confidential. Nevertheless the duty on employers and trustees to notify overrides any other duty of confidentiality⁹, and any such duty is not breached by notifying. There are also restrictions on the extent to which the Pensions Regulator can in turn pass on confidential information¹⁰.

Public disclosure

11. The Pensions Regulator does not require public disclosure of events notified to it. In the event that notification is made public by others, because for example an employer considers it necessary in order to comply with other legal requirements, the Pensions Regulator would draw attention to the following.
12. First, that notifiable events are only one of a number of requirements to provide information to the Pensions Regulator; others include to complete a scheme return. The provision of information to the Pensions Regulator should be regarded as a normal part of an employer's interaction with the Regulator.
13. Second, that the duty to notify is triggered automatically when an event occurs; not all the events, for example a change in credit rating, are under the direct control of an employer.
14. Third, and in contrast to certain other duties to report to the Pensions Regulator such as breaches of the law or failure to adhere to a schedule of contributions, the requirement to notify is not triggered by any wrongdoing by an employer (with the exception of a conviction of a director or partner of the employer for an offence involving dishonesty).
15. Fourth, that taken in isolation a notifiable event gives no indication of the financial position of an employer or of its pension scheme.

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