Legal Challenges in Digital Transformation of Pension Systems
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https://doi.org/10.59022/ujldp.56Keywords:
Pension System, Digital Transformation, Legal Challenges, Data Protection, Legal FrameworksAbstract
This research examines the legal challenges associated with the digital transformation of pension systems, focusing on the implications for data protection, and regulatory oversight. As pension systems increasingly adopt digital platforms, there is a growing need to update existing legal frameworks to address new risks and ensure participant protection. The study analyzes current laws and regulations across multiple jurisdictions, highlighting significant gaps and inconsistencies in the legal landscape. It also explores the lack of digital literacy within regulatory bodies, which complicates the enforcement of robust measures. Key findings suggest that while digital pension systems offer efficiency and accessibility, they also expose participants to greater risks if regulatory frameworks are not modernized. The paper concludes with recommendations for policy reforms, emphasizing the need for enhanced digital literacy, updated regulations, and cross-border legal cooperation. This research contributes to the ongoing discourse on securing digital pension systems in an increasingly digital world.
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