(2639,2,'2025-04-09 21:21:54','2025-04-09 21:21:54','[et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|phone\" admin_label=\"Header\" _builder_version=\"4.27.4\" _module_preset=\"d7438e4b-3063-4f7e-ba3d-f8e925610f84\" background_enable_color=\"off\" background_color_gradient_stops=\"rgba(11,36,73,0.8) 29vmin|rgba(9,47,76,0.69) 99vmin\" background_color_gradient_unit=\"vmin\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/section2.jpg\" background_position=\"top_center\" background_vertical_offset=\"25%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height=\"580px\" height_tablet=\"580px\" height_phone=\"686px\" height_last_edited=\"on|desktop\" max_height=\"764px\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px||-170px||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"10vw||0px||false|false\" custom_padding_tablet=\"20vw||0px||false|false\" custom_padding_phone=\"20vw||0px||false|false\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"0d4a2a1c-41c0-4e30-a126-b1457540a912\" custom_margin=\"-100px||-100px||true|false\" custom_margin_tablet=\"-100px||||false|false\" custom_margin_phone=\"-35px||||false|false\" custom_margin_last_edited=\"on|desktop\" hover_enabled=\"0\" global_colors_info=\"{}\" min_height_last_edited=\"on|desktop\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.25.2\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Helping funds manage costs and optimize performance\" _builder_version=\"4.27.4\" _module_preset=\"42e81ed7-b804-43ac-a3f4-f8dca9c95eb7\" title_font=\"--et_global_heading_font|--et_global_heading_font_weight|||||||\" title_text_align=\"center\" title_text_color=\"#FFFFFF\" title_font_size=\"52px\" width=\"49%\" width_tablet=\"49%\" width_phone=\"92%\" width_last_edited=\"on|phone\" max_width=\"1080px\" module_alignment=\"center\" custom_margin=\"|0px|||false|false\" custom_padding=\"|0px||0px|false|false\" title_font_size_phone=\"32px\" global_colors_info=\"{}\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"20px\" text_line_height=\"1.4em\" text_orientation=\"center\" width=\"57%\" width_tablet=\"57%\" width_phone=\"92%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" custom_margin=\"||66px||false|false\" text_font_size_tablet=\"16px\" text_font_size_phone=\"17px\" text_font_size_last_edited=\"on|tablet\" text_line_height_tablet=\"1.4em\" text_line_height_phone=\"1.4em\" text_line_height_last_edited=\"on|desktop\" text_text_shadow_style=\"preset3\" global_colors_info=\"{}\"]<p>CEM works with over 400 fund sponsors worldwide. We provide our clients with objective, actionable benchmarking insight into how to maximize value for money in investments and pension administration.</p>[/et_pb_text][et_pb_button button_url=\"#Services\" button_text=\"Our Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" box_shadow_style=\"none\" global_colors_info=\"{}\" button_text_size__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_color__hover_enabled=\"on|hover\" button_border_radius__hover_enabled=\"on|hover\" button_border_radius__hover=\"3px\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_row column_structure=\"1_4,1_4,1_4,1_4\" custom_padding_last_edited=\"on|desktop\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"-25px||||false|false\" custom_padding_tablet=\"\" custom_padding_phone=\"0px||||false|false\" global_colors_info=\"{}\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Countries\" number=\"25\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Trillion Participating Assets\" number=\"15\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Million Members\" number=\"80\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Years of History\" number=\"33\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width_tablet=\"\" width_phone=\"102%\" width_last_edited=\"on|phone\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px|0px|-20px|0px|false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"|0px||0px|false|false\" module_alignment_tablet=\"\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/worldmap.png\" alt=\"At CEM, we work with funds all over the world\" title_text=\"CEM client overview\" align=\"center\" align_tablet=\"center\" align_phone=\"center\" align_last_edited=\"on|phone\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"88%\" width_tablet=\"88%\" width_phone=\"100%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin_tablet=\"\" custom_margin_phone=\"|0px||0px|false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px|0px|0px|0px|false|false\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|phone\" global_colors_info=\"{}\"][/et_pb_image][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|phone\" admin_label=\"Feature\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" custom_margin_tablet=\"-15px||||false|false\" custom_margin_phone=\"-30px||||false|false\" custom_margin_last_edited=\"on|tablet\" custom_padding=\"17px||||false|false\" custom_padding_tablet=\"17px||||false|false\" custom_padding_phone=\"35px||||false|false\" locked=\"off\" global_colors_info=\"{}\"][et_pb_row column_structure=\"1_3,1_3,1_3\" make_equal=\"on\" module_id=\"Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"1800px\" locked=\"off\" global_colors_info=\"{}\" button_text_color__hover=\"rgba(237,174,73,0.53)\" button_text_color__hover_enabled=\"on|hover\" button_icon_color__hover=\"#bababa\" button_icon_color__hover_enabled=\"on|desktop\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"on|phone\"][et_pb_column type=\"1_3\" _builder_version=\"4.22.0\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Our Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font=\"|--et_global_body_font_weight|||||||\" title_font_size=\"48px\" custom_margin_tablet=\"\" custom_margin_phone=\"-30px||25px||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"||0px||false|false\" title_font_size_tablet=\"48px\" title_font_size_phone=\"32px\" title_font_size_last_edited=\"on|desktop\" global_colors_info=\"{}\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#0c0c0c\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"]<p>As a leading data and insights firm we provide a range of services to help funds develop effective investment and pension administration strategies. Get more details about our unique offerings by clicking the \'Learn more\' buttons.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" global_colors_info=\"{}\"]<h4><a href=\"/investment-benchmarking\">Investment Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\"]<ul class=\"service-list\">\n<li>Defined Benefit Funds</li>\n<li>Sovereign Wealth Funds</li>\n<li>Other long-term asset<br />owners</li>\n</ul>[/et_pb_text][et_pb_button button_url=\"/investment-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"||||false|false\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/pension-administration\">Pension Administration Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<p><span>Administrators of Defined Benefit<br /></span><span>and Defined Contribution Funds</span><span></span></p>\n<p>&nbsp;</p>[/et_pb_text][et_pb_button button_url=\"/pension-administration-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"56px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_3,1_3,1_3\" make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"1800px\" custom_margin_tablet=\"\" custom_margin_phone=\"\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px||5px||false|false\" locked=\"off\" global_colors_info=\"{}\"][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/defined-contribution\">Defined Contribution Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" locked=\"off\" global_colors_info=\"{}\"]<p><span>U.S. Corporate and Public Defined Contribution Plans, 401(k), 403(b), 457, and other</span></p>[/et_pb_text][et_pb_button button_url=\"/defined-contribution-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"92px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/global-leaders-investment\">Global Leaders Investment Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<p><span>Large funds with complex investment programs</p>\n<p></span></p>\n<p><span></span></p>[/et_pb_text][et_pb_button button_url=\"/global-leaders-investment\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"65px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/transparency-benchmarking\">Transparency Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin=\"||26px|||\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<ul class=\"service-list\">\n<li>Pension Funds</li>\n<li>Sovereign Wealth Funds</li>\n<li>Other long-term asset<br />owners</li>\n</ul>[/et_pb_text][et_pb_button button_url=\"/transparency-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"||||false|false\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|desktop\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Why-CEM.png\" background_size=\"contain\" background_position=\"top_right\" background_horizontal_offset=\"-13%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height=\"690px\" height_tablet=\"650px\" height_phone=\"850px\" height_last_edited=\"on|phone\" max_height=\"870px\" custom_margin=\"0px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"35px||||false|false\" custom_padding_tablet=\"35px||||false|false\" custom_padding_phone=\"20px||20px||false|false\" 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global_colors_info=\"{%22gcid-heading-color%22:%91%22title_text_color%22%93}\"][/et_pb_heading][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"]<p style=\"text-align: left;\"><strong>Unique Global Databases<br /></strong>We have been collecting detailed cost and performance data from the world’s top<br />pension and sovereign wealth funds for over 25 years.</p>\n<p style=\"text-align: left;\"><strong>Comprehensive Analysis and Reporting<br /></strong>Our reports and insights provide actionable insights and are used strategically as<br />well as to help meet fiduciary responsibilities.</p>\n<p style=\"text-align: left;\"><strong>Knowledge Sharing<br /></strong>We work closely with hundreds of expert pension practitioners worldwide and are<br />in a unique position to capture and share this expertise amongst our clients.</p>\n<p style=\"text-align: left;\"><strong>Independent and Objective<br /></strong>Benchmarking pension and sovereign wealth funds is all we do. We do not<br />manage assets.</p>\n<p style=\"text-align: left;\"><strong>Confidentiality<br /></strong>The information that CEM collects is sensitive. We are very careful about how we<br />handle it. We do not disclose individual fund data or results to third parties.</p>[/et_pb_text][et_pb_button button_url=\"/demo-request/\" button_text=\"Request a Demo\" button_alignment=\"left\" disabled_on=\"off|off|off\" _builder_version=\"4.27.4\" _module_preset=\"default\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{}\" button_bg_color__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_enable_color__hover=\"on\" button_border_radius__hover_enabled=\"on|hover\" button_border_radius__hover=\"3px\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" disabled_on=\"on|off|off\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"250px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Our Team\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font=\"|--et_global_body_font_weight|||||||\" title_text_align=\"center\" title_text_color=\"gcid-heading-color\" title_font_size=\"48px\" custom_margin=\"-25px||||false|false\" custom_margin_tablet=\"-25px||||false|false\" custom_margin_phone=\"-37px||-3px||false|false\" custom_margin_last_edited=\"on|phone\" title_font_size_tablet=\"48px\" title_font_size_phone=\"32px\" title_font_size_last_edited=\"on|phone\" global_colors_info=\"{%22gcid-heading-color%22:%91%22title_text_color%22%93}\"][/et_pb_heading][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_2,1_2\" make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" width_tablet=\"\" width_phone=\"58%\" width_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"1000px\" height_last_edited=\"on|phone\" max_height_tablet=\"\" max_height_phone=\"\" max_height_last_edited=\"on|phone\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"1_2\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_team_member image_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Rashay-sq.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" header_text_align=\"center\" header_font_size=\"17px\" body_text_align=\"center\" body_font_size=\"15px\" background_color=\"#f4f4f4\" width=\"55%\" module_alignment=\"right\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"340px\" height_last_edited=\"on|phone\" custom_margin=\"0px||||false|false\" custom_padding=\"54px|40px|40px|40px|false|false\" link_option_url=\"/team\" border_radii=\"on|12px|12px|12px|12px\" border_color_all=\"#001E66\" border_radii_image=\"on|100%|100%|100%|100%\" box_shadow_style=\"preset1\" box_shadow_blur=\"19px\" box_shadow_spread=\"-5px\" global_colors_info=\"{}\" width__hover_enabled=\"on|desktop\" width__hover=\"51%\"]<h4></h4>\n<h4></h4>\n<h4></h4>\n<h4>Rashay Jethalal</h4>\n<p>CEO</p>[/et_pb_team_member][/et_pb_column][et_pb_column type=\"1_2\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_team_member image_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Mike-Heale.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" header_text_align=\"center\" header_font_size=\"17px\" body_text_align=\"center\" body_font_size=\"15px\" background_color=\"#f4f4f4\" positioning=\"absolute\" position_origin_a_tablet=\"\" position_origin_a_phone=\"\" position_origin_a_last_edited=\"on|desktop\" position_origin_f_tablet=\"\" position_origin_f_phone=\"\" position_origin_f_last_edited=\"on|desktop\" position_origin_r_tablet=\"\" position_origin_r_phone=\"\" position_origin_r_last_edited=\"on|desktop\" width=\"55%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"340px\" height_last_edited=\"on|phone\" custom_margin=\"0px||||false|false\" custom_padding=\"54px|40px|40px|40px|false|false\" link_option_url=\"/team\" positioning_tablet=\"absolute\" positioning_phone=\"absolute\" positioning_last_edited=\"on|desktop\" border_radii=\"on|12px|12px|12px|12px\" border_color_all=\"#001E66\" border_radii_image=\"on|100%|100%|100%|100%\" box_shadow_style=\"preset1\" box_shadow_blur=\"19px\" box_shadow_spread=\"-5px\" global_colors_info=\"{}\" width__hover_enabled=\"on|desktop\" width__hover=\"51%\"]<h4></h4>\n<h4></h4>\n<h4></h4>\n<h4>Mike Heale</h4>\n<p>Global Business Development</p>[/et_pb_team_member][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin_tablet=\"\" custom_margin_phone=\"-235px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_button button_url=\"/team\" button_text=\"Meet our team\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_border_radius=\"3px\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" global_colors_info=\"{}\" button_bg_color__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section]','Home page','','inherit','closed','closed','','16-revision-v1','','','2025-04-09 21:21:54','2025-04-09 21:21:54','',16,'https://www.cembenchmarking.com/?p=2639',0,'revision','',0),(2641,2,'2025-04-09 21:30:51','2025-04-09 21:30:51','[et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|phone\" admin_label=\"Header\" _builder_version=\"4.27.4\" _module_preset=\"d7438e4b-3063-4f7e-ba3d-f8e925610f84\" background_enable_color=\"off\" background_color_gradient_stops=\"rgba(11,36,73,0.8) 29vmin|rgba(9,47,76,0.69) 99vmin\" background_color_gradient_unit=\"vmin\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/section2.jpg\" background_position=\"top_center\" background_vertical_offset=\"25%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height=\"600px\" height_tablet=\"580px\" height_phone=\"686px\" height_last_edited=\"on|desktop\" max_height=\"764px\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px||-170px||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"||||false|false\" custom_padding_tablet=\"20vw||0px||false|false\" custom_padding_phone=\"20vw||0px||false|false\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"0d4a2a1c-41c0-4e30-a126-b1457540a912\" custom_margin=\"50px||50px||true|false\" custom_margin_tablet=\"-100px||||false|false\" custom_margin_phone=\"-35px||||false|false\" custom_margin_last_edited=\"on|desktop\" hover_enabled=\"0\" global_colors_info=\"{}\" min_height_last_edited=\"on|desktop\" sticky_enabled=\"0\" custom_padding=\"||||true|false\"][et_pb_column type=\"4_4\" _builder_version=\"4.25.2\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Helping funds manage costs and optimize performance\" _builder_version=\"4.27.4\" _module_preset=\"42e81ed7-b804-43ac-a3f4-f8dca9c95eb7\" title_font=\"--et_global_heading_font|--et_global_heading_font_weight|||||||\" title_text_align=\"center\" title_text_color=\"#FFFFFF\" title_font_size=\"52px\" width=\"49%\" width_tablet=\"49%\" width_phone=\"92%\" width_last_edited=\"on|phone\" max_width=\"1080px\" module_alignment=\"center\" custom_margin=\"||||false|false\" custom_padding=\"||||false|false\" hover_enabled=\"0\" title_font_size_phone=\"32px\" global_colors_info=\"{}\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"20px\" text_line_height=\"1.4em\" text_orientation=\"center\" width=\"57%\" width_tablet=\"57%\" width_phone=\"92%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" custom_margin=\"||66px||false|false\" hover_enabled=\"0\" text_font_size_tablet=\"16px\" text_font_size_phone=\"17px\" text_font_size_last_edited=\"on|tablet\" text_line_height_tablet=\"1.4em\" text_line_height_phone=\"1.4em\" text_line_height_last_edited=\"on|desktop\" text_text_shadow_style=\"preset3\" global_colors_info=\"{}\" sticky_enabled=\"0\"]<p>CEM works with over 400 fund sponsors worldwide. We provide our clients with objective, actionable benchmarking insight into how to maximize value for money in investments and pension administration.</p>[/et_pb_text][et_pb_button button_url=\"#Services\" button_text=\"Our Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" box_shadow_style=\"none\" global_colors_info=\"{}\" button_text_size__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_color__hover_enabled=\"on|hover\" button_border_radius__hover_enabled=\"on|hover\" button_border_radius__hover=\"3px\" sticky_enabled=\"0\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_row column_structure=\"1_4,1_4,1_4,1_4\" custom_padding_last_edited=\"on|desktop\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"-25px||||false|false\" custom_padding_tablet=\"\" custom_padding_phone=\"0px||||false|false\" global_colors_info=\"{}\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Countries\" number=\"25\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Trillion Participating Assets\" number=\"15\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Million Members\" number=\"80\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_number_counter title=\"Years of History\" number=\"33\" percent_sign=\"off\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_font=\"|--et_global_body_font_weight|||||||\" number_font=\"|300|||||||\" global_colors_info=\"{}\"][/et_pb_number_counter][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width_tablet=\"\" width_phone=\"102%\" width_last_edited=\"on|phone\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px|0px|-20px|0px|false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"|0px||0px|false|false\" module_alignment_tablet=\"\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/worldmap.png\" alt=\"At CEM, we work with funds all over the world\" title_text=\"CEM client overview\" align=\"center\" align_tablet=\"center\" align_phone=\"center\" align_last_edited=\"on|phone\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"88%\" width_tablet=\"88%\" width_phone=\"100%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin_tablet=\"\" custom_margin_phone=\"|0px||0px|false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px|0px|0px|0px|false|false\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|phone\" global_colors_info=\"{}\"][/et_pb_image][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|phone\" admin_label=\"Feature\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" custom_margin_tablet=\"-15px||||false|false\" custom_margin_phone=\"-30px||||false|false\" custom_margin_last_edited=\"on|tablet\" custom_padding=\"17px||||false|false\" custom_padding_tablet=\"17px||||false|false\" custom_padding_phone=\"35px||||false|false\" locked=\"off\" global_colors_info=\"{}\"][et_pb_row column_structure=\"1_3,1_3,1_3\" make_equal=\"on\" module_id=\"Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"1800px\" locked=\"off\" global_colors_info=\"{}\" button_text_color__hover=\"rgba(237,174,73,0.53)\" button_text_color__hover_enabled=\"on|hover\" button_icon_color__hover=\"#bababa\" button_icon_color__hover_enabled=\"on|desktop\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"on|phone\"][et_pb_column type=\"1_3\" _builder_version=\"4.22.0\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Our Services\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font=\"|--et_global_body_font_weight|||||||\" title_font_size=\"48px\" custom_margin_tablet=\"\" custom_margin_phone=\"-30px||25px||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"||0px||false|false\" title_font_size_tablet=\"48px\" title_font_size_phone=\"32px\" title_font_size_last_edited=\"on|desktop\" global_colors_info=\"{}\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#0c0c0c\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"]<p>As a leading data and insights firm we provide a range of services to help funds develop effective investment and pension administration strategies. Get more details about our unique offerings by clicking the \'Learn more\' buttons.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" global_colors_info=\"{}\"]<h4><a href=\"/investment-benchmarking\">Investment Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\"]<ul class=\"service-list\">\n<li>Defined Benefit Funds</li>\n<li>Sovereign Wealth Funds</li>\n<li>Other long-term asset<br />owners</li>\n</ul>[/et_pb_text][et_pb_button button_url=\"/investment-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"||||false|false\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/pension-administration\">Pension Administration Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<p><span>Administrators of Defined Benefit<br /></span><span>and Defined Contribution Funds</span><span></span></p>\n<p>&nbsp;</p>[/et_pb_text][et_pb_button button_url=\"/pension-administration-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"56px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_3,1_3,1_3\" make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" max_width=\"1800px\" custom_margin_tablet=\"\" custom_margin_phone=\"\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px||5px||false|false\" locked=\"off\" global_colors_info=\"{}\"][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/defined-contribution\">Defined Contribution Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" locked=\"off\" global_colors_info=\"{}\"]<p><span>U.S. Corporate and Public Defined Contribution Plans, 401(k), 403(b), 457, and other</span></p>[/et_pb_text][et_pb_button button_url=\"/defined-contribution-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"92px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/global-leaders-investment\">Global Leaders Investment Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<p><span>Large funds with complex investment programs</p>\n<p></span></p>\n<p><span></span></p>[/et_pb_text][et_pb_button button_url=\"/global-leaders-investment\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"65px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][et_pb_column type=\"1_3\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"rgba(0,39,102,0.9)\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"#002766 0%|rgba(0,39,102,0.13) 67%\" custom_padding=\"30px|30px|30px|30px|true|true\" border_radii=\"on|15px|15px|15px|15px\" border_color_all=\"rgba(0,0,0,0.12)\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"ee17f347-3088-4433-8b1d-a500323229d4\" header_text_color=\"#F0F0F0\" header_3_text_color=\"#F0F0F0\" header_4_font=\"|600|||||||\" header_4_text_color=\"#F0F0F0\" header_4_font_size=\"21px\" header_5_text_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"||5px||false|false\" custom_margin_last_edited=\"on|phone\" header_4_font_size_tablet=\"21px\" header_4_font_size_phone=\"19px\" header_4_font_size_last_edited=\"on|desktop\" locked=\"off\" global_colors_info=\"{}\"]<h4><a href=\"/transparency-benchmarking\">Transparency Benchmarking</a></h4>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"2892f928-2db5-4612-8ab9-3f06f5d06872\" text_text_color=\"#F0F0F0\" custom_margin=\"||26px|||\" custom_margin_tablet=\"\" custom_margin_phone=\"||-5px||false|false\" custom_margin_last_edited=\"on|phone\" locked=\"off\" global_colors_info=\"{}\"]<ul class=\"service-list\">\n<li>Pension Funds</li>\n<li>Sovereign Wealth Funds</li>\n<li>Other long-term asset<br />owners</li>\n</ul>[/et_pb_text][et_pb_button button_url=\"/transparency-benchmarking\" button_text=\"Learn more\" button_alignment=\"left\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_text_color=\"gcid-heading-color\" button_bg_color=\"#ffffff\" button_border_radius=\"3px\" button_font=\"--et_global_body_font||||||||\" background_layout=\"light\" custom_margin=\"||||false|false\" custom_padding=\"2px|15px|2px|15px|true|true\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{%22gcid-heading-color%22:%91%22button_text_color%22%93}\" button_bg_color__hover_enabled=\"on|desktop\" button_bg_color__hover=\"#EDAE49\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" custom_padding_last_edited=\"on|desktop\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Why-CEM.png\" background_size=\"contain\" background_position=\"top_right\" background_horizontal_offset=\"-13%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height=\"690px\" height_tablet=\"650px\" height_phone=\"850px\" height_last_edited=\"on|phone\" max_height=\"870px\" custom_margin=\"0px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"0px||||false|false\" custom_margin_last_edited=\"on|desktop\" custom_padding=\"35px||||false|false\" custom_padding_tablet=\"35px||||false|false\" custom_padding_phone=\"20px||20px||false|false\" background_last_edited=\"on|desktop\" background_enable_image_tablet=\"off\" background_enable_image_phone=\"off\" global_colors_info=\"{}\"][et_pb_row custom_padding_last_edited=\"on|phone\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding_tablet=\"\" custom_padding_phone=\"||10px||false|false\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Why CEM?\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font=\"|--et_global_body_font_weight|||||||\" title_text_align=\"center\" title_font_size=\"48px\" custom_padding=\"||0px||false|false\" title_text_align_tablet=\"center\" title_text_align_phone=\"left\" title_text_align_last_edited=\"on|desktop\" title_font_size_tablet=\"48px\" title_font_size_phone=\"32px\" title_font_size_last_edited=\"on|desktop\" global_colors_info=\"{%22gcid-heading-color%22:%91%22title_text_color%22%93}\"][/et_pb_heading][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"]<p style=\"text-align: left;\"><strong>Unique Global Databases<br /></strong>We have been collecting detailed cost and performance data from the world’s top<br />pension and sovereign wealth funds for over 25 years.</p>\n<p style=\"text-align: left;\"><strong>Comprehensive Analysis and Reporting<br /></strong>Our reports and insights provide actionable insights and are used strategically as<br />well as to help meet fiduciary responsibilities.</p>\n<p style=\"text-align: left;\"><strong>Knowledge Sharing<br /></strong>We work closely with hundreds of expert pension practitioners worldwide and are<br />in a unique position to capture and share this expertise amongst our clients.</p>\n<p style=\"text-align: left;\"><strong>Independent and Objective<br /></strong>Benchmarking pension and sovereign wealth funds is all we do. We do not<br />manage assets.</p>\n<p style=\"text-align: left;\"><strong>Confidentiality<br /></strong>The information that CEM collects is sensitive. We are very careful about how we<br />handle it. We do not disclose individual fund data or results to third parties.</p>[/et_pb_text][et_pb_button button_url=\"/demo-request/\" button_text=\"Request a Demo\" button_alignment=\"left\" disabled_on=\"off|off|off\" _builder_version=\"4.27.4\" _module_preset=\"default\" box_shadow_style=\"none\" locked=\"off\" global_colors_info=\"{}\" button_bg_color__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_enable_color__hover=\"on\" button_border_radius__hover_enabled=\"on|hover\" button_border_radius__hover=\"3px\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" disabled_on=\"on|off|off\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" custom_margin_tablet=\"\" custom_margin_phone=\"250px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_heading title=\"Our Team\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font=\"|--et_global_body_font_weight|||||||\" title_text_align=\"center\" title_text_color=\"gcid-heading-color\" title_font_size=\"48px\" custom_margin=\"-25px||||false|false\" custom_margin_tablet=\"-25px||||false|false\" custom_margin_phone=\"-37px||-3px||false|false\" custom_margin_last_edited=\"on|phone\" title_font_size_tablet=\"48px\" title_font_size_phone=\"32px\" title_font_size_last_edited=\"on|phone\" global_colors_info=\"{%22gcid-heading-color%22:%91%22title_text_color%22%93}\"][/et_pb_heading][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_2,1_2\" make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" width_tablet=\"\" width_phone=\"58%\" width_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"1000px\" height_last_edited=\"on|phone\" max_height_tablet=\"\" max_height_phone=\"\" max_height_last_edited=\"on|phone\" custom_margin_tablet=\"\" custom_margin_phone=\"-20px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"1_2\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_team_member image_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Rashay-sq.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" header_text_align=\"center\" header_font_size=\"17px\" body_text_align=\"center\" body_font_size=\"15px\" background_color=\"#f4f4f4\" width=\"55%\" module_alignment=\"right\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"340px\" height_last_edited=\"on|phone\" custom_margin=\"0px||||false|false\" custom_padding=\"54px|40px|40px|40px|false|false\" link_option_url=\"/team\" border_radii=\"on|12px|12px|12px|12px\" border_color_all=\"#001E66\" border_radii_image=\"on|100%|100%|100%|100%\" box_shadow_style=\"preset1\" box_shadow_blur=\"19px\" box_shadow_spread=\"-5px\" global_colors_info=\"{}\" width__hover_enabled=\"on|desktop\" width__hover=\"51%\"]<h4></h4>\n<h4></h4>\n<h4></h4>\n<h4>Rashay Jethalal</h4>\n<p>CEO</p>[/et_pb_team_member][/et_pb_column][et_pb_column type=\"1_2\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_team_member image_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Mike-Heale.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" header_text_align=\"center\" header_font_size=\"17px\" body_text_align=\"center\" body_font_size=\"15px\" background_color=\"#f4f4f4\" positioning=\"absolute\" position_origin_a_tablet=\"\" position_origin_a_phone=\"\" position_origin_a_last_edited=\"on|desktop\" position_origin_f_tablet=\"\" position_origin_f_phone=\"\" position_origin_f_last_edited=\"on|desktop\" position_origin_r_tablet=\"\" position_origin_r_phone=\"\" position_origin_r_last_edited=\"on|desktop\" width=\"55%\" min_height_tablet=\"\" min_height_phone=\"\" min_height_last_edited=\"on|phone\" height_tablet=\"\" height_phone=\"340px\" height_last_edited=\"on|phone\" custom_margin=\"0px||||false|false\" custom_padding=\"54px|40px|40px|40px|false|false\" link_option_url=\"/team\" positioning_tablet=\"absolute\" positioning_phone=\"absolute\" positioning_last_edited=\"on|desktop\" border_radii=\"on|12px|12px|12px|12px\" border_color_all=\"#001E66\" border_radii_image=\"on|100%|100%|100%|100%\" box_shadow_style=\"preset1\" box_shadow_blur=\"19px\" box_shadow_spread=\"-5px\" global_colors_info=\"{}\" width__hover_enabled=\"on|desktop\" width__hover=\"51%\"]<h4></h4>\n<h4></h4>\n<h4></h4>\n<h4>Mike Heale</h4>\n<p>Global Business Development</p>[/et_pb_team_member][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin_tablet=\"\" custom_margin_phone=\"-235px||||false|false\" custom_margin_last_edited=\"on|phone\" global_colors_info=\"{}\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"][et_pb_button button_url=\"/team\" button_text=\"Meet our team\" _builder_version=\"4.27.4\" _module_preset=\"default\" button_border_radius=\"3px\" button_text_size_phone=\"17px\" button_text_size_last_edited=\"off|desktop\" box_shadow_style=\"none\" global_colors_info=\"{}\" button_bg_color__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_enable_color__hover=\"on\" button_text_size__hover_enabled=\"on|hover\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section]','Home page','','inherit','closed','closed','','16-revision-v1','','','2025-04-09 21:30:51','2025-04-09 21:30:51','',16,'https://www.cembenchmarking.com/?p=2641',0,'revision','',0),(2643,26,'2025-04-11 15:28:13','2025-04-11 15:28:13','<!-- wp:divi/placeholder -->\n[et_pb_section][et_pb_row][et_pb_column type=\"4_4\"][et_pb_text]<!-- divi:paragraph -->\n<p>What our members have shared: &nbsp;<br>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Pilot Programs and Internal Focus:</strong> Several organizations are actively conducting pilot projects, primarily focusing on internal applications. These include using AI tools for call transcription, sentiment analysis, interaction summaries, drafting initial responses to inquiries, and improving internal knowledge base search capabilities.    </li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Risk Assessment and Governance:</strong> A prevalent theme is the cautious approach towards deploying AI in direct member interactions, primarily due to concerns about accuracy and the potential for misinformation. Consequently, many are prioritizing internal tools that assist staff, analyze data quality, and identify patterns for service improvement. Establishing robust governance frameworks is considered a critical prerequisite.&nbsp;</li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Collaborative Learning:</strong> We can see that here is strong interest among plans to learn from the experiences of peers before committing to significant AI implementations. Encouragingly, collaborative initiatives, such as dedicated discussion groups, are emerging to facilitate shared learning and best practices regarding AI adoption. &nbsp; &nbsp;<br>&nbsp;</li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:paragraph -->\n<p>The integration of AI into member service is progressing thoughtfully, characterized by strategic pilots, careful risk management, and a commendable spirit of collaboration among PIN members.&nbsp;<br>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p><strong><em>POLL: AI Adoption Stage</em></strong>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>What stage best describes your organization\'s implementation of AI for customer service?&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Initial exploration and internal discussion&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Piloting internal AI applications&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Piloting member-facing AI solutions&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Implemented specific AI tools&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ No current plans for AI exploration&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>Your input contributes to our collective understanding as we navigate the future of member service technology.&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','Modernizing Legacy Pension Systems: Insights from CEM Benchmarking Data','','publish','closed','closed','','modernizing-legacy-pension-systems','','','2025-04-21 13:17:18','2025-04-21 13:17:18','',0,'https://www.cembenchmarking.com/?p=2643',0,'post','',0),(2644,2,'2025-04-11 15:25:13','2025-04-11 15:25:13','<!-- wp:divi/placeholder -->\n[et_pb_section][et_pb_row][et_pb_column type=\"4_4\"][et_pb_text]<!-- divi:paragraph -->\n<p>What our members have shared: &nbsp;<br>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Pilot Programs and Internal Focus:</strong> Several organizations are actively conducting pilot projects, primarily focusing on internal applications. These include using AI tools for call transcription, sentiment analysis, interaction summaries, drafting initial responses to inquiries, and improving internal knowledge base search capabilities.    </li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Risk Assessment and Governance:</strong> A prevalent theme is the cautious approach towards deploying AI in direct member interactions, primarily due to concerns about accuracy and the potential for misinformation. Consequently, many are prioritizing internal tools that assist staff, analyze data quality, and identify patterns for service improvement. Establishing robust governance frameworks is considered a critical prerequisite.&nbsp;</li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:list -->\n<ul class=\"wp-block-list\"><!-- divi:list-item -->\n<li><strong>Collaborative Learning:</strong> We can see that here is strong interest among plans to learn from the experiences of peers before committing to significant AI implementations. Encouragingly, collaborative initiatives, such as dedicated discussion groups, are emerging to facilitate shared learning and best practices regarding AI adoption. &nbsp; &nbsp;<br>&nbsp;</li>\n<!-- /divi:list-item --></ul>\n<!-- /divi:list -->\n\n<!-- divi:paragraph -->\n<p>The integration of AI into member service is progressing thoughtfully, characterized by strategic pilots, careful risk management, and a commendable spirit of collaboration among PIN members.&nbsp;<br>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p><strong><em>POLL: AI Adoption Stage</em></strong>&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>What stage best describes your organization\'s implementation of AI for customer service?&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Initial exploration and internal discussion&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Piloting internal AI applications&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Piloting member-facing AI solutions&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ Implemented specific AI tools&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>☐ No current plans for AI exploration&nbsp;</p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>Your input contributes to our collective understanding as we navigate the future of member service technology.&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','Modernizing Legacy Pension Systems: Insights from CEM Benchmarking Data','','inherit','closed','closed','','2643-revision-v1','','','2025-04-11 15:25:13','2025-04-11 15:25:13','',2643,'https://www.cembenchmarking.com/?p=2644',0,'revision','',0),(2645,2,'2025-04-11 20:29:54','2025-04-11 20:29:54','','Legacy system modernization','','inherit','closed','closed','','chatgpt-image-apr-10-2025-11_17_01-am','','','2025-04-11 20:30:09','2025-04-11 20:30:09','',0,'https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-10-2025-11_17_01-AM.png',0,'attachment','image/png',0),(2646,2,'2025-04-11 20:33:19','2025-04-11 20:33:19','','Legacy systems','','inherit','closed','closed','','chatgpt-image-apr-9-2025-05_23_52-pm','','','2025-04-11 20:33:26','2025-04-11 20:33:26','',0,'https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png',0,'attachment','image/png',0),(2647,2,'2025-04-11 20:46:47','2025-04-11 20:46:47','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" width=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|31px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"data:image/svg+xml;base64,PHN2ZyB3aWR0aD0iMTA4MCIgaGVpZ2h0PSI1NDAiIHZpZXdCb3g9IjAgMCAxMDgwIDU0MCIgeG1sbnM9Imh0dHA6Ly93d3cudzMub3JnLzIwMDAvc3ZnIj4KICAgIDxnIGZpbGw9Im5vbmUiIGZpbGwtcnVsZT0iZXZlbm9kZCI+CiAgICAgICAgPHBhdGggZmlsbD0iI0VCRUJFQiIgZD0iTTAgMGgxMDgwdjU0MEgweiIvPgogICAgICAgIDxwYXRoIGQ9Ik00NDUuNjQ5IDU0MGgtOTguOTk1TDE0NC42NDkgMzM3Ljk5NSAwIDQ4Mi42NDR2LTk4Ljk5NWwxMTYuMzY1LTExNi4zNjVjMTUuNjItMTUuNjIgNDAuOTQ3LTE1LjYyIDU2LjU2OCAwTDQ0NS42NSA1NDB6IiBmaWxsLW9wYWNpdHk9Ii4xIiBmaWxsPSIjMDAwIiBmaWxsLXJ1bGU9Im5vbnplcm8iLz4KICAgICAgICA8Y2lyY2xlIGZpbGwtb3BhY2l0eT0iLjA1IiBmaWxsPSIjMDAwIiBjeD0iMzMxIiBjeT0iMTQ4IiByPSI3MCIvPgogICAgICAgIDxwYXRoIGQ9Ik0xMDgwIDM3OXYxMTMuMTM3TDcyOC4xNjIgMTQwLjMgMzI4LjQ2MiA1NDBIMjE1LjMyNEw2OTkuODc4IDU1LjQ0NmMxNS42Mi0xNS42MiA0MC45NDgtMTUuNjIgNTYuNTY4IDBMMTA4MCAzNzl6IiBmaWxsLW9wYWNpdHk9Ii4yIiBmaWxsPSIjMDAwIiBmaWxsLXJ1bGU9Im5vbnplcm8iLz4KICAgIDwvZz4KPC9zdmc+Cg==\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width=\"70%\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>\n<p>&nbsp;</p>[/et_pb_text][et_pb_heading title=\"Your Title Goes Here\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width=\"70%\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"90%\" module_alignment=\"center\" border_width_all=\"20px\" border_color_all=\"#F0F0F0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p data-ccp-border-bottom=\"0px none \" data-ccp-padding-bottom=\"0px\"><i><span data-contrast=\"none\">As a PIN member, you can access the collective expertise of over 100 global pension plans through CEM Benchmarking’s Peer Intelligence Network (PIN) </span></i><a href=\"https://pin.cembenchmarking.com/\"><i><span data-contrast=\"none\">here</span></i></a><i><span data-contrast=\"none\">. </span></i><span data-ccp-props=\"{&quot;335557856&quot;:15790320,&quot;335559739&quot;:0,&quot;335572071&quot;:4,&quot;335572072&quot;:4,&quot;335572073&quot;:0,&quot;469789798&quot;:&quot;single&quot;}\"> </span></p>\n<p data-ccp-border-top=\"0.6666666666666666px solid #000000\" data-ccp-padding-top=\"5.333333333333333px\" data-ccp-border-bottom=\"0px none \" data-ccp-padding-bottom=\"0px\"><i><span data-contrast=\"none\">If you do not have access to PIN yet, you can contact your CEM representative to learn more about joining the PIN community, or click the button below.</span></i><span data-ccp-props=\"{&quot;335557856&quot;:15790320,&quot;335559739&quot;:0,&quot;335572071&quot;:4,&quot;335572072&quot;:4,&quot;335572073&quot;:0,&quot;469789798&quot;:&quot;single&quot;}\"> </span></p>\n<p data-ccp-border-top=\"0.6666666666666666px solid #000000\" data-ccp-padding-top=\"5.333333333333333px\">[/et_pb_text][et_pb_button button_text=\"Inquire about PIN\" _builder_version=\"4.27.4\" _module_preset=\"default\" box_shadow_style=\"none\" global_colors_info=\"{}\" button_bg_color__hover_enabled=\"on|hover\" button_bg_color__hover=\"#ed9200\" button_bg_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-11 20:46:47','2025-04-11 20:46:47','',2558,'https://www.cembenchmarking.com/?p=2647',0,'revision','',0),(2649,2,'2025-04-14 13:28:50','2025-04-14 13:28:50','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|31px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"data:image/svg+xml;base64,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\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 13:28:50','2025-04-14 13:28:50','',2558,'https://www.cembenchmarking.com/?p=2649',0,'revision','',0),(2650,2,'2025-04-14 17:11:01','2025-04-14 17:11:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|31px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Legacy systems\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:11:01','2025-04-14 17:11:01','',2558,'https://www.cembenchmarking.com/?p=2650',0,'revision','',0),(2651,2,'2025-04-14 17:11:17','2025-04-14 17:11:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|71px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Legacy systems\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:11:17','2025-04-14 17:11:17','',2558,'https://www.cembenchmarking.com/?p=2651',0,'revision','',0),(2652,2,'2025-04-14 17:11:28','2025-04-14 17:11:28','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Legacy systems\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:11:28','2025-04-14 17:11:28','',2558,'https://www.cembenchmarking.com/?p=2652',0,'revision','',0),(2653,2,'2025-04-14 17:12:47','2025-04-14 17:12:47','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" use_custom_gutter=\"on\" gutter_width=\"1\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Legacy systems\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:12:47','2025-04-14 17:12:47','',2558,'https://www.cembenchmarking.com/?p=2653',0,'revision','',0),(2654,2,'2025-04-14 17:17:00','2025-04-14 17:17:00','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" use_custom_gutter=\"on\" gutter_width=\"1\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Legacy systems\" sticky_enabled=\"0\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" column_structure=\"1_4,3_4\" theme_builder_area=\"et_body_layout\" background_color=\"#F0F0F0\" sticky_enabled=\"0\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" title_text=\"Edsart-Heuberger\" border_radii=\"on|218px|218px|218px|218px\" hover_enabled=\"0\" sticky_enabled=\"0\" width=\"70%\" custom_margin=\"||||false|false\" align=\"center\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"||4px||false|false\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:17:00','2025-04-14 17:17:00','',2558,'https://www.cembenchmarking.com/?p=2654',0,'revision','',0);
INSERT INTO `wp_posts` VALUES (2655,2,'2025-04-14 17:22:06','2025-04-14 17:22:06','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:22:06','2025-04-14 17:22:06','',2558,'https://www.cembenchmarking.com/?p=2655',0,'revision','',0),(2657,2,'2025-04-14 17:23:50','2025-04-14 17:23:50','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|desktop\" custom_margin_phone=\"|0px|||false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:23:50','2025-04-14 17:23:50','',2558,'https://www.cembenchmarking.com/?p=2657',0,'revision','',0),(2658,2,'2025-04-14 17:24:52','2025-04-14 17:24:52','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:24:52','2025-04-14 17:24:52','',2558,'https://www.cembenchmarking.com/?p=2658',0,'revision','',0),(2659,2,'2025-04-14 17:26:03','2025-04-14 17:26:03','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:26:03','2025-04-14 17:26:03','',2558,'https://www.cembenchmarking.com/?p=2659',0,'revision','',0),(2660,2,'2025-04-14 17:26:30','2025-04-14 17:26:30','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|phone\" title_font_size_phone=\"20px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:26:30','2025-04-14 17:26:30','',2558,'https://www.cembenchmarking.com/?p=2660',0,'revision','',0),(2661,2,'2025-04-14 17:26:49','2025-04-14 17:26:49','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|phone\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:26:49','2025-04-14 17:26:49','',2558,'https://www.cembenchmarking.com/?p=2661',0,'revision','',0),(2662,2,'2025-04-14 17:28:06','2025-04-14 17:28:06','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"88%\" width_last_edited=\"on|phone\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 17:28:06','2025-04-14 17:28:06','',2558,'https://www.cembenchmarking.com/?p=2662',0,'revision','',0),(2663,2,'2025-04-14 17:29:06','2025-04-14 17:29:06','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/insights-cover-med.jpg\" height=\"370px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" 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theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 18:50:48','2025-04-14 18:50:48','',2558,'https://www.cembenchmarking.com/?p=2664',0,'revision','',0),(2665,2,'2025-04-14 18:56:47','2025-04-14 18:56:47','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 18:56:47','2025-04-14 18:56:47','',2558,'https://www.cembenchmarking.com/?p=2665',0,'revision','',0),(2666,2,'2025-04-14 18:58:03','2025-04-14 18:58:03','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 18:58:03','2025-04-14 18:58:03','',2558,'https://www.cembenchmarking.com/?p=2666',0,'revision','',0),(2667,2,'2025-04-14 18:59:25','2025-04-14 18:59:25','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\" width_last_edited=\"on|phone\" width=\"96%\" width_phone=\"95%\" width_tablet=\"96%\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 18:59:25','2025-04-14 18:59:25','',2558,'https://www.cembenchmarking.com/?p=2667',0,'revision','',0),(2668,2,'2025-04-14 19:00:05','2025-04-14 19:00:05','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" 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theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\" width_last_edited=\"on|phone\" width=\"96%\" width_phone=\"90%\" width_tablet=\"96%\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" 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theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\" width_last_edited=\"on|phone\" width=\"90%\" width_phone=\"90%\" width_tablet=\"90%\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 19:01:23','2025-04-14 19:01:23','',2558,'https://www.cembenchmarking.com/?p=2669',0,'revision','',0),(2670,2,'2025-04-14 19:01:38','2025-04-14 19:01:38','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.65) 0%|rgba(0,28,63,0.71) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\" width_last_edited=\"on|phone\" width=\"93%\" width_phone=\"90%\" width_tablet=\"93%\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 19:01:38','2025-04-14 19:01:38','',2558,'https://www.cembenchmarking.com/?p=2670',0,'revision','',0),(2671,2,'2025-04-14 19:03:08','2025-04-14 19:03:08','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.78) 0%|rgba(0,28,63,0.92) 100%\" background_color_gradient_overlays_image=\"on\" background_image=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/dataPrincples-cover.jpg\" height=\"370px\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text=\"Forex diagrams and stock market rising lines with numbers\" sticky_enabled=\"0\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" make_equal=\"on\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"40px\" width=\"80%\" width_tablet=\"80%\" width_phone=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" title_font_size_last_edited=\"on|desktop\" title_font_size_phone=\"30px\" title_font_size_tablet=\"40px\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_text_color=\"#ffffff\" text_font_size=\"21px\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p style=\"text-align: center;\">Pension Administration Insights</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||-1px||false|false\" custom_padding=\"||2px|||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"100%\" custom_margin=\"-40px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" width=\"80%\" width_tablet=\"80%\" width_phone=\"80%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"-18px||2px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>[publishpress_authors_data field=\"display_name\" seperator=\", \"]</p>[/et_pb_text][et_pb_text _builder_version=\"4.27.4\" _dynamic_attributes=\"content\" _module_preset=\"default\" text_font=\"||||||||\" text_orientation=\"center\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"15%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<script><!-- [et_pb_line_break_holder] -->const copyBtn = document.getElementById(\'copyURL\');<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->copyBtn.addEventListener(\'click\', () => {<!-- [et_pb_line_break_holder] -->  const url = window.location.href;<!-- [et_pb_line_break_holder] -->  navigator.clipboard.writeText(url).then(() => {<!-- [et_pb_line_break_holder] -->    alert(\'URL copied successfully!\');<!-- [et_pb_line_break_holder] -->  }).catch(() => {<!-- [et_pb_line_break_holder] -->    alert(\'Error copying URL to clipboard\');<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] -->});<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" module_alignment_last_edited=\"on|tablet\" module_alignment_tablet=\"center\" width_last_edited=\"on|phone\" width_phone=\"90%\" module_alignment=\"center\" module_alignment_phone=\"center\" width_tablet=\"70%\"][et_pb_column type=\"3_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" text_orientation_last_edited=\"on|phone\" text_orientation_phone=\"center\" width_last_edited=\"on|phone\" width=\"93%\" width_phone=\"90%\" width_tablet=\"93%\"]<p>Insights from CEM Benchmarking\'s annual Pension Administration Survey consistently highlight key industry trends each year, and one of the most critical currently is the modernization of legacy systems. This is not just a background task; it is a strategic priority. Our 2024 survey data shows that a significant 46% of participating global pension funds are replacing their central administration system, and 40% finished doing so within the past five years. This trend extends to related systems like CRM, member and employer portals, and HR interfaces, all to improve member experience and how efficiently things run.</p>\n<p>To explore these changes further, we discussed the details of modernization with Edsart Heuberger, the Product Manager for our Pension Administration Benchmarking Subscription. His insights and our wide range of data paint a clear picture of the challenges and opportunities facing pension administrators today.</p>\n<p>&nbsp;</p>[/et_pb_text][/et_pb_column][et_pb_column type=\"2_5\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2025/04/ChatGPT-Image-Apr-9-2025-05_23_52-PM.png\" title_text=\"Legacy systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_padding=\"30px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" width_tablet=\"70%\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Why Modernize Now? The Twin Drivers of Change\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The decision to take on the complex and often expensive process of system modernization typically comes down to two main reasons:</p>\n<p><strong>Ensuring Business Sustainability</strong><strong>:</strong> Legacy systems eventually become outdated. As Edsart notes, \" It really comes down to issues with the long-term sustainability of the current pension administration system.” This challenge is threefold: technical debt grows, internal staff with the knowledge and skills required to maintain the legacy systems are retiring and difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</p>\n<p><strong>Meeting Evolving Member Expectations:</strong> Today\'s members benchmark their service experiences against other industries, which are often far ahead of the pension sector technologically. \"Member expectations are higher than ever before. Both members and employers engage with companies that provide superior (digital) experiences,\" Edsart explains. Failing to modernize risks reduces member trust and satisfaction. Outdated technology limits the ability to modernize business processes, improve digital member engagement, and better decision-making by using data analytics. This drive for a better member experience often requires the adoption of cloud computing, especially as organizations start to use AI and machine learning.</p>\n<p>While improving the member experience is crucial, modernization is equally about achieving \"operational excellence.\" This means optimizing processes, increasing efficiency, reducing waste, and ultimately delivering better service at a reasonable cost. Modern systems allow for automation and streamlined workflows that are impossible with outdated technology.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][et_pb_heading title=\"The Shifting Landscape: From In-House Control to Third-Party Partnerships\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>In the past, many pension plans have preferred developing and managing their administration systems in-house. \"Plans used to do a lot in-house because of the complexity of their business, and so they could control the service they provided,\" says Edsart.</p>\n<p>However, more plans are partnering with third-party service providers and vendors in recent years. \"The rate of technological change is high,\" Edsart observes. “Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use custom off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a custom off-the-shelf solution still required more than 90% customization.</p>[/et_pb_text][et_pb_heading title=\"Beyond the %22Big Bang%22: Evolving Modernization Approaches\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>The specific approach to modernization is also changing. The traditional \"Big Bang approach” – a total replacement often taking 5-10 years and costing large amounts – is an immense project.</p>\n<p>Edsart notes a shift in mindset with plans that modernized more recently: \"Many plans have modernized their systems in a way, so it is easier to continually update, avoiding future big-bang modernizations.\" This points to moving to a more flexible, adaptable system design that supports continually improving instead of less frequent, more extensive replacements.</p>[/et_pb_text][et_pb_heading title=\"Choosing Your Path: Build Strategies and Customization Realities\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Despite the trend towards vendors, the picture is not that simple. Our data shows:</p>\n<ul>\n<li><strong>58% of plans still rely on their own developed systems.</strong> Within this group:\n<ul>\n<li>43% built or are building the system primarily using internal resources.</li>\n<li>15% initially had their \"in-house\" system built from scratch by a third-party vendor.</li>\n</ul>\n</li>\n<li><strong>40% use an existing third-party platform.</strong></li>\n</ul>\n<p>Opting for a primarily in-house build offers the most control, but Edsart cautions it can be \"resource-intensive,\" requiring ongoing internal skills development. Furthermore, tracking the actual cost and timeline can be challenging compared to vendor contracts.</p>\n<p>Choosing a third-party vendor uses their size, efficiency, and experience from past projects. However, our data reveals that an \'off-the-shelf\' solution is rare in pension administration. On average, third-party systems need 52% customization to meet individual pension funds\' unique business rules and regulatory requirements.</p>\n<p>Interestingly, no single third-party vendor leads the market across the board, likely due to the high degree of unique business rules requiring custom solutions. We find that organizations commonly utilize systems from more than five different vendors. For specific insights into the most popular systems among pension peers, please reach out to your CEM Relationship Manager.</p>[/et_pb_text][et_pb_heading title=\"Modernization: A Necessity with Varied Paths\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h2\" title_font_size=\"24px\" custom_margin=\"||10px||false|false\" custom_padding=\"0px|||||\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p>Our data confirms that modernizing legacy pension systems is no longer optional but necessary. While the optimal path—whether building in-house, partnering with vendors, or a combination—varies, significant customization remains a key factor. Regardless of the approach, pension funds will continue to face challenges related to cost, resources, customization, and the rapid pace of technological change.</p>\n<p>At CEM, we believe in the power of shared insights and peer learning. By understanding the trends, costs, challenges, and successes revealed through our comprehensive data, pension funds can make more informed decisions on their modernization journeys.</p>[/et_pb_text][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row column_structure=\"1_4,3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#F0F0F0\" width=\"70%\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" width_last_edited=\"on|phone\" sticky_enabled=\"0\" width_phone=\"90%\" module_alignment=\"center\" width_tablet=\"70%\"][et_pb_column type=\"1_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_image src=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" title_text=\"Edsart-Heuberger\" align=\"center\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" custom_margin=\"||||false|false\" border_radii=\"on|218px|218px|218px|218px\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_image][/et_pb_column][et_pb_column type=\"3_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" title_text_align_last_edited=\"on|phone\" sticky_enabled=\"0\" title_text_align_phone=\"center\"][/et_pb_heading][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"|70px|||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" text_orientation_last_edited=\"on|phone\" sticky_enabled=\"0\" text_orientation_phone=\"center\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_tablet=\"|70px|||false|false\"]<p>Edsart Heuberger is Product Manager for Pension Administration Benchmarking Services (PABS) at CEM Benchmarking. He joined CEM in 2008. He has an intimate and quantitative understanding of CEM’s services and databases and continues conducting and supporting administration and investment research. Edsart holds an MSc. in Supply Chain Management from Erasmus University Rotterdam, the Netherlands.</p>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"0px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"Share this page\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_level=\"h3\" title_font=\"--et_global_heading_font|300|||||||\" title_text_align=\"center\" title_font_size=\"23px\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_heading][et_pb_icon font_icon=\"&#xf0c1;||fa||900\" icon_color=\"#ffffff\" icon_width=\"26px\" icon_color_tablet=\"#ffffff\" icon_color_phone=\"#ffffff\" icon_color_last_edited=\"on|phone\" icon_width_tablet=\"26px\" icon_width_phone=\"26px\" icon_width_last_edited=\"on|phone\" module_id=\"copyURL\" _builder_version=\"4.27.4\" _module_preset=\"default\" background_color=\"#001E66\" custom_padding=\"6px|6px|6px|6px|true|true\" background_last_edited=\"on|desktop\" custom_css_free_form=\"selector:hover {||  cursor: pointer;||}\" border_radii=\"on|100px|100px|100px|100px\" global_colors_info=\"{}\" background__hover_enabled=\"on|desktop\" background_color__hover=\"#86c1d8\" background_enable_color__hover=\"on\" theme_builder_area=\"et_body_layout\"][/et_pb_icon][/et_pb_column][/et_pb_row][/et_pb_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-14 19:03:08','2025-04-14 19:03:08','',2558,'https://www.cembenchmarking.com/?p=2671',0,'revision','',0),