The relationship between employers and associated defined benefit pension schemes has never been under the spotlight more. It is a hot topic for the media and in Westminster and, whilst the focus of the popular media is on employers doing “the right thing” for employees, behind-the-scenes the pressure on trustees to monitor and negotiate the best outcome for scheme members is ever increasing.
Pension funds are at great risk from escalating cybercrime and fraud.
The former attracts most headlines, since even major corporate or administrative bodies seem easy targets for online hackers and fraudsters: the NHS was hit in May, Sony Pictures fell victim in 2014, and three Canadian government departments were crippled in 2011.
Time to reflect…