NEWS   |    May 22, 2018

Rosalind Connor comments in Pensions Expert on GDPR and how it will affect the pensions industry

On 25th of May, GDPR will come into effect. Trustees and schemes alike have to make sure that they are watertight when it comes to complying with introduced regulation; no one wants to be caught out.

At face value, legislation designed to prevent the exploitation of personal data for commercial gain may appear not to suit the pensions industry. However, the sector is becoming more able to respond to sweeping demands over data management in such a way that makes it inherently compatible with GDPR.

Rosalind Connor, commented that, owing to the nature of member data, years of regulatory pressure and a painful recent history of security breaches, the world of pensions is ahead of comparable industries when it comes to prudent data management.

While urging against complacency, Rosalind said, “I think the whole industry has been aware of the risk of cyber-attack in a way maybe loads of other people haven’t”, adding, “we all know in pensions that old sins have long shadows”.

Read Rosalind Connor’s comments in Pensions Expert

The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.

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