Heywood
In June, we brought together a panel of US and UK pension plan experts to discuss a question that’s front of mind for many retirement systems across North America: what’s next in public pension administration?
Public retirement plans across North America are facing increasing pressure, from aging systems and shifting regulations to rising member expectations, and we heard from those directly involved in helping to shape the modern pension plans of tomorrow.
In this article, we share three key highlights from the conversation that are vital considerations for every plan considering, or about to embark on, a modernization initiative, whether they’re in an early planning phase or already deep into implementation.
Watch now: Modernizing Pensions Plans in North America Webinar
Modernization must be phased, not forced
One of the clearest messages from the panel was that modernization is not simply a switch you flip. It's a series of carefully sequenced changes. Modernization is a strategy with technical, operational and cultural elements, and any project needs to be managed with heavy helping of realism and patience.
“These are not sprints, frankly, they’re marathons.”
– John Voulgaris, senior pension plan consultant
Rushing to rip and replace can create more risk than benefit. Instead, successful programs are phased, prioritise foundational fixes (like data and workflows), and build in time for collaboration and iteration. As Heywood’s Chris Connelly noted, transformation succeeds when it’s aligned with the organisation’s capacity and internal readiness, not just a vendor’s roadmap.
Participant expectations are rising fast
The panel also reflected on the rapid shift in what members want from their retirement experience. From intuitive digital tools to real-time updates, today’s participants are bringing expectations shaped by the wider consumer world.
“We serve everyone from Gen Z to people in their 90s, so we need to use every available channel to keep people informed and engaged.”
– Leah Oliver, CTO, Ventura County Employees’ Retirement Association
That includes mobile apps, email, SMS, chatbots and even personalized video. But it’s not just about slick technology. Engagement needs to be inclusive, accessible and clear. This is especially true when members are being asked to take more ownership of their retirement journey.
Data quality and governance underpin everything
Finally, no matter how good the technology is, it won’t deliver results without clean, consistent and well-managed data. That point came through clearly in every part of the discussion, from AI and analytics to basic workflow automation.
“You will not leverage AI investment until your data model is cleaned up and ready to go.”
– John Voulgaris
Before building new interfaces or predictive tools, organisations need to invest in data readiness and governance. That means understanding the gaps, putting controls in place, and thinking long-term. As several speakers noted, data isn’t a tech issue, it’s a business asset that underpins trust, compliance and member experience.
What does the future entail?
For public retirement systems across North America, the modernization conversation is no longer about if, it’s about how. The discussion highlighted not just the common hurdles, but a strong sense of momentum and willingness to tackle them.
“What stood out to me is how much alignment there now is between technology, leadership and member expectations. There’s a growing confidence in making progress, and that’s where real change starts.”
- Chris Connelly, Chief Strategy Officer, Heywood
If you missed the session or want to revisit the discussion, you can watch the full recording on demand: Watch the webinar now
