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Significant event (c)

A significant change to the statement of investment principles.

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 when the decision is made to change the statement of investment principles.

What you need to do

  1. We anticipate the initial notification should be from the scheme’s trustees.
  2. We view a ‘significant change’ would only be considered a change once the final decision has been agreed.
  3. We expect you to notify us of significant changes in your statement of investment principles as specified in section 2 of the Occupational Pension Schemes (Investment) Regulations 2005:
    • The kinds of investments to be held, eg the introduction of derivatives.
    • The balance between different kinds of investments, eg changes to the asset allocation framework or strategy applicable to default funds.
    • Risks, including the ways in which risks are to be measured and managed, eg changes to the fund risk budget profile.
    • The expected return on investments, eg changes to any fund target or benchmark.
    • The realisation of investments, eg the restriction or withdrawal of access for members to any of the funds in which they are invested, including any changes that relate to members’ assets being transferred within the scheme.
    • The extent (if at all) to which social, environmental or ethical considerations are taken into account in the selection, retention and realisation of investments.
    • Such other matters as may be prescribed, eg as specified in section 2 of the Occupational Pension Schemes (Investment) Regulations 2005.
  4. You should submit your revised statement of investment principles to within 10 working days of submitting this form.

Completing the notification form

  1. You should explain what has been changed in your statement of investment principles in section 3 of the form.
  2. If possible, you should confirm the implications of the change in section 4.
  3. You should document the rationale for the change in section 5.
  4. Confirm details of the persons who have instigated/approved the change in section 6.
  5. You should provide the name and contact details of the person who will be dealing with this event in section 9.

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.