TPR urges impacted schemes to update members following cyber incident

The Pensions Regulator (TPR) has encouraged pension scheme trustees who may have been impacted by the recent Capita cyber incident to contact members proactively to warn them about the potential pension scams.

TPR previously said that it had written to pension schemes that use Capita's services following a cyber incident at the company, with the Financial Conduct Authority (FCA) also engaged on the issue.

Capita has since confirmed that it is in the process of informing those affected following initial investigations, with the Universities Superannuation Scheme revealing that the personal details of around 470,000 active, deferred and retired members may have been accessed during the incident.

In its latest statement, TPR warned that this situation is likely to cause concern to members, emphasising that trustees and administrators should be prepared to answer their queries.

It also encouraged pension schemes to contact members proactively to warn them about pension scams and keep them updated while the involved parties confirm whether a data breach has taken place, as well as monitor increased or unusual transfer requests.

Where there has been a data breach, TPR also stressed the need for trustees to notify affected individuals and direct them to data breaches guidance for individuals from the National Cyber Security Centre.

The regulator stated: "As trustees, you are responsible for the security of your members’ data.

“This incident shows the importance of having a robust cyber security and business continuity plan in place. Make sure you have read our cyber security guidance and check that your own plans are up to date.

“We may engage with you further to understand the steps you have taken and what progress you have made."

Capita stated: “Capita continues to work closely with specialist advisers and forensic experts to investigate the incident and we have taken extensive steps to recover and secure the data.

“In line with our previous announcement, we are now informing those we have identified to be affected.

"We have worked quickly to provide our clients with information, reassurance and support, while delivering for them as a business. In instances where we need to provide further support to those affected, we will do so.”

    Share Story:

Recent Stories


Purposeful run-on
Laura Blows discusses purposeful run-on for DB schemes with Isio director, actuarial and consulting, Matt Brown, in Pensions Age’s latest video interview
Find out more about Purposeful Run On

DB risks
Laura Blows discusses DB risks with Aon UK head of retirement policy, Matthew Arends, and Aon UK head of investment, Maria Johannessen, in Pensions Age's latest video interview

Keeping on track
In the latest Pensions Age podcast, Sophie Smith talks to Pensions Dashboards Programme (PDP) principal, Chris Curry, about the latest pensions dashboards developments, and the work still needed to stay on track
Building investments in a DC world
In the latest Pensions Age podcast, Sophie Smith talks to USS Investment Management’s head of investment product management, Naomi Clark, about the USS’ DC investments and its journey into private markets

Advertisement