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Do you open a new pension when your pension fund exceeds £85,000
The thing I was wondering about recently was what would happen if a pension provider was subject to a cyber or ransomware attack such as M&S or Co-Op. Your investments themselves would remain but would the ability for the pension firm to access them?
If an attacker encrypted the firms data then they would no longer have the ability to service your pension or even worse know what your holdings are worth. I am assuming firms will have backups and off-site storage/retrieval but no idea how long it would take them to recover ?
They wouldn't know either until it actually happened and the backups etc were put to the test.
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!
