Pension scheme cyber attacks are you prepared

The cyber threat to pension schemes specifically is increasing. The Capita data breach in 2023 is set to cost the organisation an estimated £107 million. Share prices have plummeted 54% since the attack and reputational damage has impacted both Capita and the affected schemes. That’s without even mentioning the impact on individual scheme members and those dealing with the incident. For trustees and scheme managers, it’s negligent to assume that just because nothing has happened to your scheme yet, nothing will.

Is AI the new ESG

Over the past few years, ESG was all the rage. Proponents, opponents, and everyone in between seemed to be talking about this topic on an endless loop. That was certainly the case within the financial and executive liability insurance industry. Now, it appears to be AI’s turn to walk in the sun. Flaunting its efficiency, AI has reduced the current hot topic from three letters down to two, virtually surpassing ESG as the most talked about subject in the insurance industry.

Impacts of the increased cost of living

The results of the Financial Conduct Authority's (FCA's) Financial Lives Cost of Living Survey 2024 were published in April 2024, showing that many adults are still struggling financially. Although almost 30% of adults have continued reporting difficulty coping financially into 2024, this shows an 8% decrease from last year’s results. The Financial Lives 2024 survey will help insurers to better understand the financial needs of the UK population.

Cyber security for pension scheme trustees

Lifestyle Actuary

Dalriada Trustees Limited (Dalriada), one of the largest providers of professional trustee services to pensions schemes in the UK, has today announced the appointment of Sarah Brough as a professional trustee.

Lights Camera Actuary

For the next few months Zoe Bolton will be talking to the senior actuaries in these firms, getting a brief insight into their career paths and visions for the future. This month Zoe interviews Shil Patel the UK Managing Director at Dynamo Analytics

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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