Andrew Phillips
For pension plans upgrading pension software is no longer seen as a single project with a defined start and finish line. Instead, there must be an ongoing focus on improving systems, processes, and member services. This will help us maintain pension administration software for the future.
We recently described pension software modernization as an always-on process. Leaders are no longer deciding if they should upgrade their systems, but how to plan each step. Every change must feel purposeful, achievable, and aligned with the long-term goals of the plan.
That is where a pension software roadmap makes all the difference. By breaking the journey into clear phases, from assessing readiness to setting priorities and sequencing delivery, plans can move forward with confidence and sustained momentum.
Here are the key checkpoints for public pension plans looking to embed future-proof systems into everyday operations.
Step 1: Assess pension plan readiness
Every successful transformation starts with understanding where you are today, It's no different for pension software. For plans, that means evaluating existing administration systems, data and processes. The goal is not to dwell on what is missing, but to build a clear view of your current position to plan your next steps with clarity and purpose.
Questions to guide your assessment:
- Data quality: How reliable and consistent are your member records? Do you have confidence in the information that supports key benefit calculations and reporting?
- Operational bottlenecks: Where could automation and digital tools help streamline workflows or enhance member experiences?
- System suitability: Is your current platform enabling your goals, or could newer technologies better support evolving needs?
As we heard in our recent webinar on pension plan modernization, the most successful plans treat readiness as an ongoing discipline. Regularly re-evaluating your position ensures each step remains realistic and achievable.
Step 2: Define your goals and priorities
Once you know your starting point it is time to define your destination. Transformation does not mean changing everything at once. It means focusing on the outcomes that matter most. Clear, measurable goals help guide decisions, inspire teams and build sustained momentum.
These might include:
- Strengthening operational resilience by streamlining manual or paper based processes
- Enhancing member experience with intuitive digital tools
- Ensuring compliance and transparency with evolving regulations
- Freeing up staff time through automation of routine tasks
Our mid-year review showed that many public plans are already reimagining service delivery and member engagement. Goals don’t have to be ambitious for ambition’s sake, they just need to be meaningful, measurable, and aligned with the needs of members, staff, and boards.
Step 3: Build your roadmap
This is where strategy turns into action. A roadmap translates goals into a structured, sequenced plan that balances aspiration with practicality.
Practical prompts to consider:
- Which projects will deliver visible improvement early (for example, member self service or automated workflows)?
- Where should you invest first to build a strong foundation (for example, data optimization)?
- How will you track progress, both in efficiency and member satisfaction?
- What is the right mix of internal expertise and external support?
Rather than tackling everything at once, phased implementation builds confidence, reduces risk and allows flexibility as priorities evolve.
Step 4: Secure governance and resourcing
Strong governance is the backbone of every successful transformation. It ensures leadership alignment, clear accountability and consistent support throughout delivery.
Equally, resourcing matters. Empowering project teams with the right skills, tools and time sets the foundation for success. Agile delivery methods with shorter feedback loops and incremental releases are proving highly effective in maintaining engagement and minimising risk.
Questions to ask yourself:
- Who will champion the project at board level?
- Does your steering group have the authority to remove barriers quickly?
- How are you engaging staff to build ownership and enthusiasm?
Step 5: Keep your future in mind
A strong roadmap looks beyond immediate goals. For pension software, as well as meeting the needs for today, you need to be adaptable to the requirements of tomorrow.
Future ready considerations include:
- Cloud adoption: Enabling flexibility, scalability and innovation
- Modularity: Ensuring systems evolve easily as needs change
- AI and automation: Preparing data and processes for emerging technologies
- Cybersecurity: Embedding protections that meet and exceed standards
- Member demographics: Designing experiences for every generation, from digital natives to paper-based retirees
As one of our webinar panelists noted, “These are not sprints. They are marathons.” That does not mean progress should slow, but that every step should be sustainable and build lasting capability.
Developing your pension administration software is not a onetime milestone. It is a continuous evolution. By assessing readiness, setting clear priorities, building a phased roadmap and keeping your future in view, public pension plans can move forward with assurance and momentum.
With the right strategy and the right partner, each step forward improves systems, empowers teams, and delivers better outcomes for members.
