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ARTICLE · 30 OCTOBER 2021

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Cyber Security – What Do Pension Scheme Trustees Need To Know?

Gowling WLG
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With "European Cybersecurity Month" drawing to a close, and the Pensions Regulator sharpening its focus on cyber risk as part of its new single code of practice, now is the...

United KingdomPrivacy
Ben Goldby
Ben Goldby
Helen Davenport
Helen Davenport
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With "European Cybersecurity Month" drawing to a close, and the Pensions Regulator sharpening its focus on cyber risk as part of its new single code of practice, now is the perfect time for pension scheme trustees to consider this area of significant and growing risk to your scheme.

Following the introduction of the General Data Protection Regulation (GDPR), many pension schemes are complying with their legal obligations, but the threat of cyber attacks continues to grow. Indeed, 2020 was the busiest year on record for cyber attacks against UK business, with hackers taking advantage of factors like the pandemic and remote working.

GDPR projects were all about compliance, but the challenge now is about risk management. Cyber security is not a "techy" risk that can simply be eliminated with firewalls and anti-virus software. It is a risk that requires robust governance procedures – assessing, analysing and mitigating the threat to your scheme's IT systems and those

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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