How are you reacting to the new Data Protection Act powers?
The new Data Protection Act powers are clear: data breaches will allow the Information Commissioner's Office (ICO) to fine Trustees up to £500,000.
However, if data breaches do occur, the ICO will take into consideration what measures were in place to avoid breaches. Transmitting data via email is not a sufficient approach to avoid such breaches.
The solution is for pension schemes to embrace secure server technology in order to protect their members' data.
Many schemes that have welcomed governance software are already able to make online decisions in a secure environment, and will not be at risk of incurring fines from the ICO for data breaches.
Read about eShare's response to the new Data Protection Act powers.
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here to read more about eDecisions and how it will benefit your scheme.