Data Protection Notice
When you are a customer in LÍV, LÍV needs certain information about you in order to manage your pension and insurance. LÍV is the data controller and, as such, is responsible for ensuring that the information we hold about you is processed securely and confidentially, in accordance with the applicable laws. The purpose of this notice is to inform you of how LÍV handles personal data and what rights you have.
What do we use your information for?
We use information about you for several purposes, including:
- Establishing and managing your pension plan.
- Providing services related to the administration, such as advising you on your pension and insurance matters.
- Receiving contributions and making payments.
- Providing information to TAKS (Tax Authority).
What information do we process?
When you become a customer: We receive your name, personal identification number (p-tal), and information about the agreement you have with your employer when they start paying into your pension plan. This information is necessary for us to register you as a customer. We also process certain health information, which is required to determine whether we can offer you adequate insurance coverage. We would also like to have your email address and phone number to contact you.
When we provide advice: We use the information we have about you, and may ask for additional information if necessary, when we provide you with advice regarding your pension and life insurance matters.
When you receive payments: If you apply for payment from insurance due to serious illness or disability, we require specific information to process your claim. This may include health information, which we may receive from you, your doctor, or the hospital. In some cases, we may need to gather information from other sources.
Who do we share your information with?
We share your information with others when it is necessary for managing your pension agreement, to fulfill an agreement with you, or if required by law to disclose information. When we share information, it is always done in compliance with applicable law.
When we make payments, certain information is shared with the bank, such as your personal identification number (p-tal), the amount, and bank account number. We are also required to provide certain information to TAKS annually.
We never share your health information with others without your consent.
Your rights
Under the Data Protection Act (Chapter 4), you have specific rights regarding the processing of your personal data.
You have the right to be informed about the information we hold about you. Furthermore, you have the right to know the purpose of the data processing to ensure that the information we process about you is correct and that the processing is legal.
You have the right to request correction of inaccurate information, deletion of data, or limitation of processing if we hold incorrect information about you or if we are not entitled to process that data. A factual error might be, for example, if we have recorded that the right leg is broken, when in fact it was the left leg. We must correct such errors. However, if we have assessed that a broken leg does not lead to permanent disability, this is not an error that you can request to be corrected.
If our processing is based on consent, you always have the right to withdraw your consent and request that your information be deleted. If your information has already been used in a processing activity, it may not be possible to alter that process.
You can always contact LÍV’s data protection officer. See contact information below.
Retention
We only retain information about you as long as necessary for processing and potential legal claims. Once the information is no longer needed, it will be deleted.
If information is collected based on consent, it will be stored in accordance with the consent given.
Can I file a complaint?
You always have the right to file a complaint with the Data Protection Authority if you are dissatisfied with our handling of your personal information.
You can find the contact information for the Data Protection Authority at www.dat.fo.
Contacting LÍV’s Data Protection Officer
You can contact our data protection officer if you have any questions about LÍV’s data protection practices, wish to receive information about how LÍV handles personal data, or want to exercise your rights under the Data Protection Act.
You can email our data protection officer at dpo@liv.fo.