diff --git a/changelog/62527.fixed b/changelog/62527.fixed
new file mode 100644
index 00000000000..3c9b76ebc33
--- /dev/null
+++ b/changelog/62527.fixed
@@ -0,0 +1 @@
+Fixes pillar where a corrupted CacheDisk file forces the pillar to be rebuilt
diff --git a/salt/utils/cache.py b/salt/utils/cache.py
index dc59000f9bd..2d9859f1a66 100644
--- a/salt/utils/cache.py
+++ b/salt/utils/cache.py
@@ -142,10 +142,21 @@ class CacheDisk(CacheDict):
         """
         if not salt.utils.msgpack.HAS_MSGPACK or not os.path.exists(self._path):
             return
-        with salt.utils.files.fopen(self._path, "rb") as fp_:
-            cache = salt.utils.msgpack.load(
-                fp_, encoding=__salt_system_encoding__, raw=False
-            )
+
+        try:
+            with salt.utils.files.fopen(self._path, "rb") as fp_:
+                cache = salt.utils.msgpack.load(
+                    fp_, encoding=__salt_system_encoding__, raw=False
+                )
+        except FileNotFoundError:
+            # File was deleted after os.path.exists call above, treat as empty cache
+            return
+        except (salt.utils.msgpack.exceptions.UnpackException, ValueError) as exc:
+            # File is unreadable, treat as empty cache
+            if log.isEnabledFor(logging.DEBUG):
+                log.debug("Error reading cache file at %r: %s", self._path, exc)
+            return
+
         if "CacheDisk_cachetime" in cache:  # new format
             self._dict = cache["CacheDisk_data"]
             self._key_cache_time = cache["CacheDisk_cachetime"]
diff --git a/tests/pytests/unit/utils/test_cache.py b/tests/pytests/unit/utils/test_cache.py
index 7910aa37a95..b46a4a6d441 100644
--- a/tests/pytests/unit/utils/test_cache.py
+++ b/tests/pytests/unit/utils/test_cache.py
@@ -193,11 +193,11 @@ def test_refill_cache(minion_config, cache_mods_path):
     assert ret == context_copy
 
 
-def test_everything(tmp_path):
+def test_everything(cache_dir):
     """
     Make sure you can instantiate, add, update, remove, expire
     """
-    path = str(tmp_path / "cachedir")
+    path = str(cache_dir / "minion")
 
     # test instantiation
     cd = cache.CacheDisk(0.3, path)
@@ -230,14 +230,12 @@ def test_everything(tmp_path):
         b"\xc3\x83\xc2\xa6\xc3\x83\xc2\xb8\xc3\x83\xc2\xa5",
     ],
 )
-def test_unicode_error(tmp_path, data):
+def test_unicode_error(cache_dir, data):
     """
     Test when the data in the cache raises a UnicodeDecodeError
     we do not raise an error.
     """
-    path = tmp_path / "cachedir"
-    path.mkdir()
-    path = path / "minion"
+    path = cache_dir / "minion"
     path.touch()
     cache_data = {
         "CacheDisk_data": {
@@ -254,3 +252,25 @@ def test_unicode_error(tmp_path, data):
     with patch.object(salt.utils.msgpack, "load", return_value=cache_data):
         cd = cache.CacheDisk(0.3, str(path))
         assert cd._dict == cache_data
+
+
+def test_cache_corruption(cache_dir):
+    """
+    Tests if the CacheDisk can survive a corrupted cache file.
+    """
+    # Write valid cache file
+    cache_file = cache_dir / "minion"
+    cd = cache.CacheDisk(0.3, str(cache_file))
+    cd["test-key"] = "test-value"
+    del cd
+
+    # Add random string to the data to make the msgpack structure un-decodable
+    with cache_file.open("a") as f:
+        f.write("I am data that should corrupt the msgpack file")
+
+    # Reopen cache, try to fetch key
+    cd = cache.CacheDisk(0.3, str(cache_file))
+    # If the cache is unreadable, we want it to act like an empty cache (as
+    # if the file did not exist in the first place), and should raise a KeyError
+    with pytest.raises(KeyError):
+        assert cd["test-key"]