Pensions Watchdog Warns Trustees Over Online Portal Data

By Martin Croucher (June 22, 2022, 3:19 PM BST) -- The Pensions Regulator said Wednesday that just a fraction of retirement saving plans with paper-based client records have begun converting them into a digital format, as it reminded trustees of next year's deadline for connecting data to new online portals.

The watchdog said that 51% of defined contribution schemes and 33% of defined benefit schemes have some customer records that aren't in a digital format. But just 4% of defined contribution schemes and 9% of defined benefit schemes have begun to digitize those records.

TPR said that the largest schemes will be required to plug in customer data to a new...

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