UK - Trustees have been warned about the extra Data Protection Act burdens they face when running DC schemes.
Paymaster sales director Nick Wheeler said it was essential that trustees and administrators were aware of the differences in running defined benefit and money purchase schemes under the Act.
He said: “With DB schemes there is a lot of complex data which only has to be correct at the time of paying the benefit.
“With DC schemes the data has to be right 100% of the time.”
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