Significant event (b)

An individual who is involved with the scheme or has been suspended while their appointment is being considered:

(i) is convicted of an offence
(ii) enters bankruptcy
(iii) has a County Court judgment registered, or in Scotland a decree of the Sheriff Court issued, against him or her
(iv) is sanctioned by a regulator other than The Pensions Regulator (TPR)
(v) is disqualified as a company director
(vi) has been the subject of an adverse judgment or has reached a settlement in civil proceedings, particularly in connection with investment or other financial business, misconduct, fraud or the formation or management of a body corporate
(vii) has contravened any of the requirements or standards of a regulator, including TPR
(viii) has a change of circumstances, through ill health or otherwise, which materially impairs the individual’s ability to operate in a capacity listed in section 7(2) or (3) of the Pension Schemes Act 2017
(ix) has any other change of circumstances which the person required to give notice considers likely to affect TPR’s assessment under section 7 of the Act of whether the individual is a fit and proper person

When to notify us

You must notify us in writing of this event as soon as reasonably practicable. This should be within five working days of you becoming aware that the event has occurred.

What you need to do

1. We anticipate the initial notification should be from the individual who is involved with one or more of the incidents listed above.
2. If you are notifying us of the event yourself, we will hold the notification confidentially. However, we will inform the scheme trustees that you have notified us of a significant event.
3. If you are notifying us of an event that is related to a different person, the trustees may want to consider how collective competence is affected if, for example, a trustee with significant master trust experience has resigned due to ill health.
4. We must be notified under (ix) of any other change of circumstances that might affect our assessment. This might include, for example, a trustee’s investment in the scheme funder that might create a new conflict of interest.

Completing the notification form

1. You should specify which individual event applies to your notification and provide relevant details in section 3 of the form.
2. You may want to consider how the event affects whether the person is fit and proper for their role and specify your consideration in section 4, if you are notifying us on behalf of another person.
3. You should specify the action that the scheme has taken or expects to take in response to this significant event and when you expect to see an outcome for this action in section 8.

Notify a significant event: form PDF 623KB , 12 pages

If there is more than one significant event and they are related, you should use one form to notify us. If the events are not related, you should use separate forms. Check what other significant events to notify us about.

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