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Significant event (h)

There is a change to the financial reporting period to be used in the accounts of the scheme or scheme funder, except where regulation 28(1) of the Occupational Pension Schemes (Master Trusts) Regulations 2018 applies to a scheme.

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 the decision to make the change.

What you need to do

  1. We anticipate the initial notification should be from the scheme’s trustees.
  2. You must notify us when the trustee board makes a decision to change your financial reporting period (before the change takes place) if you are not exempted under regulation 28(1).
  3. If your scheme is an ear-marked scheme as defined in the Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996(b), you are exempted from producing scheme report and accounts.
  4. We expect the decision to be made in a formally minuted trustee meeting and the date that the event occurs is the date that the trustee meeting is held.

Completing the notification form

  1. You should provide the rationale for the changes in section 5 of the form.
  2. You should specify the next steps for changing your financial reporting period in section 7.

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.