Stephen Gillick, Partner and Head of our Pensions team, was interviewed by European Pensions magazine on how pension funds can adequately prepare for the EU’s Digital Operational Resilience Act (DORA).
The compliance deadline for DORA is January 2025, raising concerns about whether pension funds will be adequately prepared. One of the key challenges will be the scrutiny of third-party ICT vendors, along with the need for continuous testing.
Stephen advised that the first step for pensions funds preparing for DORA should be to conduct a gap analysis. This can identify deficiencies in existing practices.
Stephen commented: “The focus should be on the existing structure in place, what is required under DORA, what needs to be done, the training that will be required and who will be responsible for this. There were a lot of lessons learnt in getting ready for IORP II that can be applied here but there is a recognition that many of the larger schemes already have a process in place and are familiar with the issues but that is not the case with the smaller ones.”
Read the full article in the digital issue of European Pensions, from page 97.
For more information and expert advice on this topic, contact a member of our Pensions team.
