An update on the Plan’s journey to reduce risk.
You may remember that the DCL Section took out an insurance contract with Rothesay Life Plc (“Rothesay”) in late 2021. We are now pleased to confirm that in December, the Trustee signed a second insurance contract with Pension Insurance Corporation Plc (PIC) for the Dow Section. You will be able to read further details on this in the next edition of Spotlight, available in January 2025.
To complete the buy-in with PIC, we needed to provide them with information about the Dow Section members and their benefits. We take the protection of your personal data very seriously and sharing this information was in line with the Plan’s Data Protection Privacy Notice (see Document library for a copy). Under the terms of the General Data Protection Regulations (“GDPR”), PIC is now a Data Controller – you can find a copy of its Privacy Notice at www.pensioncorporation.com/content/dam/pic/corporate/documents/privacy-notices/PIC-privacy-notice-pic-buy-in.pdf
You may have seen in the news that Capita, who provide our administration services, have recently experienced a cyber incident. Capita informed us that they took steps to isolate and contain the issue.
We take the responsibility of protecting members’ personal data very seriously. We are working closely with Capita in respect of their ongoing investigations, and we will provide more information or advice as it becomes available.
Furthermore, we want to reassure you that your pension remains secure.
Not sure where to start with your retirement planning? Knowing what you’ll get, how you can save more, and what you can do with money at retirement is a good first step, so use the links below to get started.