The Government has published draft regulations that would make changes to the notifiable events regime and TPR’s power to issue FSDs.
The Government is proposing for there to be a staged increase from the current 12 month period during which the Regulator can issue an FSD after a company has ceased to be associated or connected with an employer, so that the time period will increase to a two year period by 6 April 2010.
The draft regulations would remove three employer related events from the notifiable events framework.
Broadly, under these proposals employers will no longer be required to notify TPR if:
- there are two or more changes in key scheme posts;
- there is a credit rating change; and
- there are changes in key employer posts.
For more information on the notifiable events regime please see EPB briefing 131.
The consultation on these changes closes on 6 February 2009.