This document outlines how Joseph G. Byrne and Sons Consulting Actuaries Limited and Joseph G. Byrne and Sons Pension Trustees Limited (“we”, “our”, “us”) will use your personal data in providing services.
What personal data do we use?
We use personal data in the course of running our business and providing a service to our clients.
The data may come from sources which may include, but are not limited to, the following:
- directly from you
- from our clients (Our clients may include you, an employer, pension scheme trustees, a solicitor, an insurance company, a state body, or their service providers)
- from pension scheme administrators
- from another third party with whom we have a business relationship
- If you give us personal information about someone else, for example your dependants, please make sure you have their permission and make them aware of this Privacy Notice, as it also applies to them.
The type of data will depend on the type of service we provide and may include, but is not limited to, the following:
- Personal information such as name, date of birth, sex, marital status
- Contact details such as address, telephone number and email address
- Unique identifiers such as PPS number or pension scheme reference number
- Financial information such as salary history, pension contribution history, fund values, fund choice and bank details in order to process benefit payments
- Employment and scheme membership details such as employer, dates of service, date of retirement or date of exit
- Details of dependents
- In relation to pension schemes, health information and other sensitive personal information for some members (required to establish that dependants are eligible for certain benefits such as ill-health retirement and death-in-service payments)
- In relation to expert witness services, health information and other sensitive personal information such as medical reports, care reports and vocational assessors’ reports
We try to keep the amount of data to a minimum.
How do we use the data?
We will only use the data in accordance with the purpose for which it is provided, i.e. for legitimate business purposes. We will use the data in a manner compatible with the EU’s General Data Protection Regulation (GDPR). We will endeavour to keep your data accurate and up to date, and not keep it for longer than is necessary.
How we use the data will depend on the type of the service we provide. The types of services we provide and the use of data may include, but is not limited to, the following:
Pension Consulting and Administration Services:
- Calculating the actuarial value of your pension benefit and advising on the overall funding of the pension scheme.
- Assisting or advising on the orderly running of pension schemes and risk benefit schemes.
- Obtaining quotes from insurance providers for the provision of risk benefits.
- Regulatory compliance; we may also be legally obliged to pass your personal data to the Revenue Commissioners and regulatory authorities in certain circumstances.
- Where we act as pension scheme administrator, we use data in order to calculate and pay your benefits, communicate with you, and carry out Trustee decisions.
- Where we act as Scheme Actuary, we use data in order to provide actuarial valuations, calculations, certifications and advice.
If appointed as Trustee, we will act as a Data Controller in respect of personal data of various individuals in connection with the operation and administration of the Scheme.
- Managing a member’s participation in the Scheme.
- Making trustee decisions such as deciding how to invest assets, whether to agree to early retirement in the event of ill health or how to distribute benefits in the event of a death in service.
- Communicating with the members and calculating and paying benefits.
- Identifying a person as a member and (if relevant) their surviving dependants and other potential beneficiaries.
- Resolving pension scheme queries.
- Complying with legal and regulatory obligations applicable to the Trustees.
Expert Witness Services:
- Calculation of financial loss e.g. loss of earnings, loss of pension, loss of financial dependency.
- Calculation of future expenses such as medical expenses or cost of care.
- Calculation of life interests or reversions.
- Providing actuarial advice to you, the court, a solicitor, an insurance company or state body.
Personal Financial Planning Services:
In the context of providing personal financial planning services, we will act as a Data Controller in respect of personal data. We obtain personal information from you in order for our staff and support service providers to provide you with financial advice, insurance, investment, and other products which we believe are best suited to your needs, and to comply with our legal obligations.
Why we are using your data?
We have the following grounds for using personal data:
- Data use is necessary to pursue our legitimate interests as set out above e.g. to operate our business and provide the requested services.
- Data use is necessary for performance of a contract: we will collect and use personal information where necessary to enable us to fulfil our obligations in accordance with the terms of the contract with our client.
- Data use is necessary to meet legal or regulatory obligations; including requirements to make any disclosures to authorities, regulators or other government bodies.
- In some circumstances, data is used with your consent.
- Data use is necessary in relation to a legal claim.
We are committed to ensuring that data use is appropriate, and does not constitute an invasion of your privacy.
Who could your data be shared with?
Any third parties that we may share your data with are obliged to keep your data secure and to use data only to fulfil the service they provide on your behalf.
The third parties that we pass your personal data to, may include, but are not limited to, the following:
- Our clients.
- Insurance companies for the administration of your pension scheme or for the provision of risk benefits.
- Courts, public authorities, regulators and other government bodies including the Financial Services and Pensions Ombudsman in order for us to comply with our legal obligations.
- If we act as administrator of your pension scheme we may share personal information with other scheme advisors such as the scheme actuary, scheme auditors or legal advisors and their sub-contractors to facilitate the administration of the scheme.
- Our third party suppliers, where we outsource our processing operations to suppliers that process personal information on our behalf.
- If we transfer personal data to a third party or outside the EU we will ensure the recipient (processor or controller) has provided the appropriate safeguards and on condition that enforceable data subject rights and effective legal remedies are available.
What rights do you have in relation to your personal data?
At any point while we are in possession of or processing your personal data, you have the following rights:
- Right to be informed – you have the right to information about the use of your personal data.
- Right of access – you have the right to request a copy of the information that we hold about you.
- Right of rectification – you have a right to correct data that we hold about you that is inaccurate or incomplete.
- Right to erasure – in certain circumstances you can ask for your personal data to be erased.
- Right to restrict processing – in certain circumstances, you have a right to restrict processing.
- Right of portability – in certain circumstances, you have the right to have personal data transferred to another organisation.
- Right to object – you have the right to object to certain types of processing.
- Rights in relation to automated decision-making and profiling – you have the right to have automated decisions and profiling reviewed.
In order to exercise any of the above rights, please contact us.
How long will your personal data be held?
Data will not be held for longer than is necessary for the purpose(s) for which they were obtained. We will process personal data in accordance with our retention schedule. The records are retained for predefined retention periods which may extend beyond the period for which we provide the services. When deciding how long to keep your personal data, we take into account our legal obligations and our regulators’ expectations. We may also retain records to defend any potential legal claims against us. We have implemented appropriate measures to ensure your personal information is securely destroyed in a timely and consistent manner when no longer required.
Failure to provide information:
If you cannot or do not provide the data required, a consequence may be that the service requested cannot be effected.
Automated decision-making and profiling:
We may ask our Personal Financial Planning customers to complete a risk questionnaire which will be used to help establish your attitude to investment risk. The answers you supply will be inputted to an automated calculator which will provide an indication of your attitude to risk on a scale of 1 to 7. This is an illustrative tool only and does not take your full financial circumstances into account. You may elect to not complete a risk questionnaire but this may impact on our ability to recommend a product or service to you.
The Data Protection Commission’s website contains lots of information about data protection. Visit http://www.dataprotection.ie.
If you have any comments or questions regarding this privacy notice or have any concerns about how we process your personal data please do not hesitate to contact our office at the contact details below:
Joseph G. Byrne & Sons Consulting Actuaries Limited / Joseph G. Byrne and Sons Pension Trustees Limited
Leopardstown Office Park Sandyford
Tel: 01-288 1618
Email: [email protected]
Privacy notice changes:
Joseph G. Byrne & Sons Consulting Actuaries Limited / Joseph G. Byrne and Sons Pension Trustees Limited may change this privacy notice from time to time. When such a change is made, we will post a revised version online. Changes will be effective from the point at which they are posted. It is your responsibility to review this privacy notice periodically so you’re aware of any changes. By using our services you agree to this privacy notice.