5th November 2015 Anne-Marie Winton comments in Professional Pensions re What pension schemes need to know about the Safe harbour ruling
Edward Snowden’s revelations about the scope of US intelligence snooping in 2013 have already had far reaching consequences. But a ruling from the Court of Justice of the European Union (CJEU) triggered by Snowden’s disclosures means they could also create a headache for UK pension trustees.
The CJEU ruling could force trustees to take radical action on how they transfer member data, Anne-Marie comments in Professional Pensions that schemes are often unaware when data is transferred, a catch in the safe harbour ruling.
TPAs which have a US parent company could also process data in the US without their clients’ knowledge. Anne-Marie comments on one case in which her firm had to rewrite a data privacy agreement at the last minute when a client discovered its TPA was processing data in India.
Read the full article in Professional Pensions here.
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