Pension Data Breach Compensation Claims

Pension providers, just like any other organisation in the UK, have a legal obligation to inform customers that their data has been compromised in a data breach. However, it is often the case that companies do not send proper notice to victims, or the message they have sent has been lost.

It is also often the case that first-time victims of data breaches only find out that their data has been exposed after the responsible organisation has been penalised by the Information Commissioner’s Office (ICO).

If you have received a message to inform you that your data has been exposed, or you have reason to believe that this is the case, this is something our data breach solicitors can help you with.

If a company becomes aware that a data breach has occurred, they need to report it to the ICO within 72 hours. They also need to inform any individuals who have been affected by the data breach and where one or more of the following issues is present:

• Financial loss
• Identity theft or fraud
• Damage to reputation
• Discrimination

You should also be aware that you can self-report a potential data breach to the ICO if you are under the impression that the company has not done so themselves. Failing this, you can also contact a data breach solicitor to bring forward a compensation claim.

Under normal circumstances, you will have six years to make a data breach claim. This time limit is counted from when you were first made aware that a data breach took place, or you could have reasonably been aware that it took place.

More often than not, the six-year time limit will start from when the pension provider initially contacted you to inform you that you were the victim of a data breach.

Pension data breaches can occur for a number of reasons, including where:

• An employee makes a human-error (such as emailing the wrong person)
• Devices are stolen or lost
• The casino is subject to a cyber-attack

When instructed, our pension data breach solicitors will contact the pension company on your behalf, piecing together any findings from an ICO investigations to support your claim for compensation.

Building on from this, we can put forward all of the relevant evidence that proves a data breach has taken place and outline the impact it has had on both you and your loved ones. We can then place an accurate value on the damages which will likely be available for your compensation claim.

In many cases, court proceedings may not be required. We are often able to resolve pension data breaches via a negotiated settlement.

That being said, if a settlement cannot be voluntarily agreed, it may be necessary to take a case to court to access the maximum available compensation. Our solicitors provide tailored advice and robust representation in these scenarios.

You may be able to make a pension data breach, where your data has been misused in any way, or there has been a failure to keep your data secure. You may also be able to make a claim, even if you have not suffered a direct financial loss from the data breach.

If you have experienced financial harm, this can make calculating damages more straightforward.

Financial losses

Given the type of data pension providers store, there is a significant risk that a data breach could cause financial loss or identity theft. The results of your pension information or financial details being compromised can be incredibly serious, especially as it means someone may be able to set up fraudulent bank accounts in your name, or access your existing accounts.

Distress

Even if you have not experienced a direct financial loss, this does not necessarily mean that no harm has been done. Data breaches are always stressful situations and could leave you worried about your security.

The physical and mental toll of being a data breach victim should not be underestimated. Issues such as a lack of sleep, feeling ill, feeling unsettled or being confused are all common responses and could affect both you and your family.