(2686,1,'2025-04-15 21:57:10','2025-04-15 21:57:10','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" 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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" 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\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" 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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||50px||false|false\"]<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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 21:57:10','2025-04-15 21:57:10','',2558,'https://www.cembenchmarking.com/?p=2686',0,'revision','',0),(2687,1,'2025-04-15 22:00:37','2025-04-15 22:00:37','','Modernization of Legacy Systems','','inherit','','closed','','modernization-of-legacy-systems','','','2025-04-15 22:00:37','2025-04-15 22:00:37','',0,'https://www.cembenchmarking.com/wp-content/uploads/2025/04/Modernization-of-Legacy-Systems.jpg',0,'attachment','image/jpeg',0),(2689,1,'2025-04-15 22:05:01','2025-04-15 22:05:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.78) 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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||-30px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||50px||false|false\"]<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</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/Modernization-of-Legacy-Systems.jpg\" title_text=\"Modernization of Legacy Systems\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" 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_code _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"||||false|false\" sticky_enabled=\"0\"][/et_pb_code][et_pb_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\"]<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:05:01','2025-04-15 22:05:01','',2558,'https://www.cembenchmarking.com/?p=2689',0,'revision','',0),(2690,1,'2025-04-15 22:07:00','2025-04-15 22:07:00','','Modernization of Legacy Systems small','','inherit','','closed','','modernization-of-legacy-systems-small','','','2025-04-15 22:07:00','2025-04-15 22:07:00','',0,'https://www.cembenchmarking.com/wp-content/uploads/2025/04/Modernization-of-Legacy-Systems-small.jpg',0,'attachment','image/jpeg',0),(2692,1,'2025-04-15 22:11:20','2025-04-15 22:11:20','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||20px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:11:20','2025-04-15 22:11:20','',2558,'https://www.cembenchmarking.com/?p=2692',0,'revision','',0),(2693,1,'2025-04-15 22:11:54','2025-04-15 22:11:54','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|20px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:11:54','2025-04-15 22:11:54','',2558,'https://www.cembenchmarking.com/?p=2693',0,'revision','',0),(2694,1,'2025-04-15 22:12:20','2025-04-15 22:12:20','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:12:20','2025-04-15 22:12:20','',2558,'https://www.cembenchmarking.com/?p=2694',0,'revision','',0),(2695,1,'2025-04-15 22:14:00','2025-04-15 22:14:00','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.78) 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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:14:00','2025-04-15 22:14:00','',2558,'https://www.cembenchmarking.com/?p=2695',0,'revision','',0),(2696,1,'2025-04-15 22:16:30','2025-04-15 22:16:30','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.78) 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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||0px||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_text _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:16:30','2025-04-15 22:16:30','',2558,'https://www.cembenchmarking.com/?p=2696',0,'revision','',0),(2697,1,'2025-04-15 22:16:53','2025-04-15 22:16:53','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||0px||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:16:53','2025-04-15 22:16:53','',2558,'https://www.cembenchmarking.com/?p=2697',0,'revision','',0),(2698,1,'2025-04-15 22:17:35','2025-04-15 22:17:35','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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>[/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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:17:35','2025-04-15 22:17:35','',2558,'https://www.cembenchmarking.com/?p=2698',0,'revision','',0),(2699,1,'2025-04-15 22:19:33','2025-04-15 22:19:33','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:19:33','2025-04-15 22:19:33','',2558,'https://www.cembenchmarking.com/?p=2699',0,'revision','',0),(2700,1,'2025-04-15 22:22:41','2025-04-15 22:22:41','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_testimonial portrait_url=\"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\" hover_enabled=\"0\" sticky_enabled=\"0\"]<p>“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.”</p>[/et_pb_testimonial][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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:22:41','2025-04-15 22:22:41','',2558,'https://www.cembenchmarking.com/?p=2700',0,'revision','',0),(2701,1,'2025-04-15 22:23:34','2025-04-15 22:23:34','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_testimonial portrait_url=\"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\" hover_enabled=\"0\" sticky_enabled=\"0\"]<p><strong><em>“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.”</em></strong></p>[/et_pb_testimonial][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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:23:34','2025-04-15 22:23:34','',2558,'https://www.cembenchmarking.com/?p=2701',0,'revision','',0),(2702,1,'2025-04-15 22:25:01','2025-04-15 22:25:01','[et_pb_section fb_built=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" use_background_color_gradient=\"on\" background_color_gradient_stops=\"rgba(0,28,63,0.78) 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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_padding=\"||0px||false|false\" hover_enabled=\"0\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\"][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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" hover_enabled=\"0\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\"]<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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\"][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" custom_margin=\"0px||||false|false\" 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\" theme_builder_area=\"et_body_layout\" hover_enabled=\"0\" sticky_enabled=\"0\" custom_margin=\"0px||||false|false\" custom_padding=\"0px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_margin_phone=\"15px||||false|false\" custom_margin_tablet=\"0px||||false|false\"]<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</p>\n<p>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_testimonial portrait_url=\"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\" hover_enabled=\"0\" sticky_enabled=\"0\"]<p><em>“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.”</em></p>[/et_pb_testimonial][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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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=\"||50px||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|||||\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-15 22:25:01','2025-04-15 22:25:01','',2558,'https://www.cembenchmarking.com/?p=2702',0,'revision','',0),(2704,1,'2025-04-21 13:18:58','2025-04-21 13:18:58','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" 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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\" 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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"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\" custom_margin=\"0px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"15px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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</p>\n<p>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_testimonial portrait_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p><em>“Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use commercial off-the-shelf solutions require a significant degree of customization.”</em></p>[/et_pb_testimonial][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=\"||50px||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 commercial 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=\"||50px||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=\"||50px||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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"28%\" module_alignment=\"center\" custom_padding=\"15px||0px||false|false\" locked=\"off\" 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\" text_orientation=\"center\" module_alignment=\"center\" custom_margin=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][Sassy_Social_Share][/et_pb_code][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_section]','Research Posts','','inherit','closed','closed','','2558-revision-v1','','','2025-04-21 13:18:58','2025-04-21 13:18:58','',2558,'https://www.cembenchmarking.com/?p=2704',0,'revision','',0),(2705,1,'2025-04-21 16:31:31','2025-04-21 16:31:31','[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\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_row make_equal=\"on\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"50px||50px||true|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=\"90%\" width_last_edited=\"on|desktop\" module_alignment=\"center\" title_font_size_tablet=\"40px\" title_font_size_phone=\"30px\" title_font_size_last_edited=\"on|desktop\" 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 column_structure=\"3_5,2_5\" use_custom_gutter=\"on\" gutter_width=\"1\" _builder_version=\"4.27.4\" _module_preset=\"default\" width=\"70%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" module_alignment_tablet=\"center\" module_alignment_phone=\"center\" module_alignment_last_edited=\"on|tablet\" 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\" width=\"93%\" width_tablet=\"93%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"|42px|||false|false\" text_orientation_tablet=\"\" text_orientation_phone=\"left\" text_orientation_last_edited=\"on|desktop\" 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_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\" custom_margin=\"|42px|15px||false|false\" custom_padding=\"||0px||false|false\" 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 retire and are difficult to replace, and third-party vendor support fades over time. Modernization becomes necessary to keep things running smoothly and reliably.</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/Modernization-of-Legacy-Systems-small.jpg\" title_text=\"Modernization of Legacy Systems small\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||0px||false|false\" custom_padding=\"||0px||false|false\" 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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" custom_margin=\"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\" custom_margin=\"0px||||false|false\" custom_margin_tablet=\"0px||||false|false\" custom_margin_phone=\"15px||||false|false\" custom_margin_last_edited=\"on|phone\" custom_padding=\"0px||||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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</p>\n<p>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_testimonial portrait_url=\"https://www.cembenchmarking.com/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<p><em>“Plans are clearly considering their ability to keep pace with this change. That said, we still observe that plans that use commercial off-the-shelf solutions require a significant degree of customization.”</em></p>[/et_pb_testimonial][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=\"||50px||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 commercial off-the-shelf solutions require a significant degree of customization”—a quarter of plans implementing a commercial 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=\"||50px||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=\"||50px||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%\" width_tablet=\"70%\" width_phone=\"90%\" width_last_edited=\"on|phone\" module_alignment=\"center\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][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\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][et_pb_heading title=\"About the Expert\" _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"||4px||false|false\" title_text_align_tablet=\"\" title_text_align_phone=\"center\" title_text_align_last_edited=\"on|phone\" 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=\"|70px|||false|false\" custom_margin_tablet=\"|70px|||false|false\" custom_margin_phone=\"|20px||20px|false|false\" custom_margin_last_edited=\"on|phone\" text_orientation_tablet=\"\" text_orientation_phone=\"center\" text_orientation_last_edited=\"on|phone\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"]<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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_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=\"{}\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" custom_padding=\"65px||56px||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=\"Research Insights\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"46px\" title_letter_spacing=\"2px\" custom_padding=\"||||false|false\" custom_padding_tablet=\"||||false|false\" custom_padding_phone=\"||||false|false\" custom_padding_last_edited=\"on|desktop\" 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background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','publish','closed','closed','','the-impact-of-service-models-on-pension-administration-costs-a-global-perspective','','','2025-05-16 14:13:23','2025-05-16 14:13:23','',0,'https://www.cembenchmarking.com/?p=2712',0,'post','',0),(2714,1,'2025-05-14 17:13:15','2025-05-14 17:13:15','[et_pb_section fb_built=\"1\" admin_label=\"section\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row admin_label=\"row\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text admin_label=\"Text\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p><span data-contrast=\"auto\">The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.</span><span data-ccp-props=\"{}\"> </span></p>\n<p><span data-contrast=\"auto\">Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.</span><span data-ccp-props=\"{}\"> </span></p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" module_alignment=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" text_orientation=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','Should Canada Require its Pension Funds to Invest More Domestically?The Impact of Service Models on Pension Administration Costs: A Global Perspective Should Canada Require its Pension Funds to Invest More Domestically?','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:13:15','2025-05-14 17:13:15','',2712,'https://www.cembenchmarking.com/?p=2714',0,'revision','',0),(2715,1,'2025-05-14 17:18:57','2025-05-14 17:18:57','[et_pb_section fb_built=\"1\" admin_label=\"section\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row admin_label=\"row\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text admin_label=\"Text\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p><span data-contrast=\"auto\">The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.</span><span data-ccp-props=\"{}\"> </span></p>\n<p><span data-contrast=\"auto\">Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.</span><span data-ccp-props=\"{}\"> </span></p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" module_alignment=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" text_orientation=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:18:57','2025-05-14 17:18:57','',2712,'https://www.cembenchmarking.com/?p=2715',0,'revision','',0),(2716,1,'2025-05-14 17:19:06','2025-05-14 17:19:06','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" admin_label=\"section\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row admin_label=\"row\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text admin_label=\"Text\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p><span data-contrast=\"auto\">The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.</span><span data-ccp-props=\"{}\"> </span></p>\n<p><span data-contrast=\"auto\">Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.</span><span data-ccp-props=\"{}\"> </span></p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" module_alignment=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" text_orientation=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:19:06','2025-05-14 17:19:06','',2712,'https://www.cembenchmarking.com/?p=2716',0,'revision','',0),(2718,15,'2025-05-14 17:13:49','2025-05-14 17:13:49','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" admin_label=\"section\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row admin_label=\"row\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text admin_label=\"Text\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p><span data-contrast=\"auto\">The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.</span><span data-ccp-props=\"{}\"> </span></p>\n<p><span data-contrast=\"auto\">Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.</span><span data-ccp-props=\"{}\"> </span></p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" module_alignment=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" text_orientation=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','trash','closed','closed','','__trashed','','','2025-05-14 17:34:41','2025-05-14 17:34:41','',0,'https://www.cembenchmarking.com/?p=2718',0,'post','',0),(2719,1,'2025-05-14 17:32:30','2025-05-14 17:32:30','<!-- wp:paragraph -->\n<p>This report examines the domestic vs. international breakdown of investments for Canadian pension funds, and barriers to domestic investment. It finds the proportion of Canadian listed equity and fixed income holdings is relatively high compared to the global share of Canadian assets, but has come down dramatically in the last ten years. Citing examples from Australia and India, the authors highlight opportunities for Canadian governments to monetize strategic assets and lure more investment from Canadian pension funds and others.</p>\n<!-- /wp:paragraph -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:32:30','2025-05-14 17:32:30','',2712,'https://www.cembenchmarking.com/?p=2719',0,'revision','',0),(2720,1,'2025-05-14 17:34:41','2025-05-14 17:34:41','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" admin_label=\"section\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row admin_label=\"row\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text admin_label=\"Text\" _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p><span data-contrast=\"auto\">The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.</span><span data-ccp-props=\"{}\"> </span></p>\n<p><span data-contrast=\"auto\">Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.</span><span data-ccp-props=\"{}\"> </span></p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" module_alignment=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" text_orientation=\"center\" hover_enabled=\"0\" locked=\"off\" global_colors_info=\"{}\" theme_builder_area=\"post_content\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2718-revision-v1','','','2025-05-14 17:34:41','2025-05-14 17:34:41','',2718,'https://www.cembenchmarking.com/?p=2720',0,'revision','',0),(2721,1,'2025-05-14 17:38:05','2025-05-14 17:38:05','<!-- wp:paragraph -->\n<p>TThe cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior.&nbsp;</p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.&nbsp;</p>\n<!-- /wp:paragraph -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:38:05','2025-05-14 17:38:05','',2712,'https://www.cembenchmarking.com/?p=2721',0,'revision','',0),(2722,1,'2025-05-14 17:38:57','2025-05-14 17:38:57','<!-- wp:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.&nbsp;</p>\n<!-- /wp:paragraph -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:38:57','2025-05-14 17:38:57','',2712,'https://www.cembenchmarking.com/?p=2722',0,'revision','',0),(2723,1,'2025-05-14 17:40:23','2025-05-14 17:40:23','<!-- wp:divi/placeholder -->\n[et_pb_section][et_pb_row][et_pb_column type=\"4_4\"][et_pb_text]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:40:23','2025-05-14 17:40:23','',2712,'https://www.cembenchmarking.com/?p=2723',0,'revision','',0),(2724,1,'2025-05-14 17:43:44','2025-05-14 17:43:44','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=\"1\" theme_builder_area=\"post_content\" _builder_version=\"4.27.4\" _module_preset=\"default\"][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"post_content\"][et_pb_column _builder_version=\"4.27.4\" _module_preset=\"default\" type=\"4_4\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" theme_builder_area=\"post_content\" hover_enabled=\"0\" sticky_enabled=\"0\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:43:44','2025-05-14 17:43:44','',2712,'https://www.cembenchmarking.com/?p=2724',0,'revision','',0),(2725,1,'2025-05-14 17:45:54','2025-05-14 17:45:54','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph -->\n\n<!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, Download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters.&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 17:45:54','2025-05-14 17:45:54','',2712,'https://www.cembenchmarking.com/?p=2725',0,'revision','',0),(2726,1,'2025-05-14 18:11:56','2025-05-14 18:11:56','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->\n<p>&nbsp;</p>\n<!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 18:11:56','2025-05-14 18:11:56','',2712,'https://www.cembenchmarking.com/?p=2726',0,'revision','',0),(2728,1,'2025-05-14 18:12:36','2025-05-14 18:12:36','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 18:12:36','2025-05-14 18:12:36','',2712,'https://www.cembenchmarking.com/?p=2728',0,'revision','',0),(2729,1,'2025-05-14 18:19:11','2025-05-14 18:19:11','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]\n<!-- /wp:divi/placeholder -->','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 18:19:11','2025-05-14 18:19:11','',2712,'https://www.cembenchmarking.com/?p=2729',0,'revision','',0),(2731,1,'2025-05-14 18:21:34','2025-05-14 18:21:34','[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=\"Research Insights\" _builder_version=\"4.27.4\" _module_preset=\"default\" title_text_align=\"center\" title_text_color=\"#ffffff\" title_font_size=\"46px\" title_letter_spacing=\"2px\" width=\"100%\" max_width=\"85%\" module_alignment=\"center\" custom_padding=\"||||false|false\" custom_padding_tablet=\"||||false|false\" custom_padding_phone=\"||||false|false\" custom_padding_last_edited=\"on|desktop\" title_text_shadow_style=\"preset3\" 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;\">Original research from CEM Benchmarking</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_heading title=\"@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@\" _builder_version=\"4.27.4\" _dynamic_attributes=\"title\" _module_preset=\"default\" title_text_align=\"center\" 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_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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]<p><i><span data-contrast=\"none\">Chris Flynn, Head of Research, CEM Benchmarking</span></i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"> </span></p>\n<p><i><span data-contrast=\"none\">Edsart Heuberger, Product Manager Pension Administration, CEM Benchmarking</span></i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"> </span></p>\n<p><i><span data-contrast=\"none\">Alexander D. Beath, Founder and CEO, Alex Beath &amp; Associates</span></i><span data-ccp-props=\"{}\"> </span></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\" hover_enabled=\"0\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\" sticky_enabled=\"0\"]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9kYXRlIiwic2V0dGluZ3MiOnsiYmVmb3JlIjoiIiwiYWZ0ZXIiOiIiLCJkYXRlX2Zvcm1hdCI6ImN1c3RvbSIsImN1c3RvbV9kYXRlX2Zvcm1hdCI6IkYsIFkifX0=@[/et_pb_text][et_pb_post_content _builder_version=\"4.27.4\" _module_preset=\"default\" custom_margin=\"-30px||0px||false|false\" custom_padding=\"||0px||false|false\" global_colors_info=\"{}\" theme_builder_area=\"et_body_layout\"][/et_pb_post_content][/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\" 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theme_builder_area=\"et_body_layout\"][/et_pb_icon][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_section]','Research Posts','','inherit','closed','closed','','1148-revision-v1','','','2025-05-14 18:21:34','2025-05-14 18:21:34','',1148,'https://www.cembenchmarking.com/?p=2731',0,'revision','',0),(2732,1,'2025-05-14 18:21:34','2025-05-14 18:21:34','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-14 18:21:34','2025-05-14 18:21:34','',2712,'https://www.cembenchmarking.com/?p=2732',0,'revision','',0),(2733,1,'2025-05-16 11:57:30','2025-05-16 11:57:30','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- 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-->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_section]','Research Posts','','inherit','closed','closed','','1148-revision-v1','','','2025-05-16 11:59:15','2025-05-16 11:59:15','',1148,'https://www.cembenchmarking.com/?p=2734',0,'revision','',0),(2735,1,'2025-05-16 11:59:15','2025-05-16 11:59:15','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" 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This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- [et_pb_line_break_holder] -->  hbspt.forms.create({<!-- [et_pb_line_break_holder] -->    portalId: \"20903941\",<!-- [et_pb_line_break_holder] -->    formId: \"ae8c083b-cb12-4bec-8d82-b5476456bed6\",<!-- [et_pb_line_break_holder] -->    region: \"na1\"<!-- [et_pb_line_break_holder] -->  });<!-- [et_pb_line_break_holder] --></script>[/et_pb_code][/et_pb_column][/et_pb_row][/et_pb_section]','The Impact of Service Models on Pension Administration Costs: A Global Perspective','','inherit','closed','closed','','2712-revision-v1','','','2025-05-16 11:59:15','2025-05-16 11:59:15','',2712,'https://www.cembenchmarking.com/?p=2735',0,'revision','',0),(2736,1,'2025-05-16 13:48:28','2025-05-16 13:48:28','<!-- wp:divi/placeholder -->\n[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions varies significantly worldwide, from under £14 per member in the U.K. to over $325 CAD in Canada. This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. 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Posts','','inherit','closed','closed','','1148-revision-v1','','','2025-05-16 14:03:17','2025-05-16 14:03:17','',1148,'https://www.cembenchmarking.com/?p=2741',0,'revision','',0),(2742,1,'2025-05-16 14:03:17','2025-05-16 14:03:17','[et_pb_section fb_built=\"1\" _builder_version=\"4.16\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_row _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.16\" custom_padding=\"|||\" global_colors_info=\"{}\" custom_padding__hover=\"|||\" theme_builder_area=\"post_content\"][et_pb_text _builder_version=\"4.16\" background_size=\"initial\" background_position=\"top_left\" background_repeat=\"repeat\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<!-- divi:paragraph -->\n<p>The cost of administering benefits for large Defined Benefit (DB) pensions 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This whitepaper quantifies these cost differences, considering factors like currency, purchasing power, membership composition, local cost of living, economies of scale, and pension maturity. It explores how these factors impact reported costs and reveals that service culture plays a crucial role. In regions like Canada and the Netherlands, the focus is on excellence across various activities, while in the U.K., the emphasis is on maintaining mission-critical activities. The USA exhibits both models, with high-cost/high-touch in urban centers and low-cost/low-touch elsewhere. Neither model is deemed superior. </p>\n<!-- /divi:paragraph --><!-- divi:paragraph -->\n<p>Whether you\'re a pension professional, policymaker, or simply curious about global best practices, download the whitepaper by filling out the form below, as this analysis offers a fresh lens on how pensions are managed—and why it matters. </p>\n<p>&nbsp;</p>\n<p>&nbsp;</p>\n<!-- /divi:paragraph -->[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_column type=\"4_4\" _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"][et_pb_code _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\" theme_builder_area=\"post_content\"]<script charset=\"utf-8\" type=\"text/javascript\" src=\"//js.hsforms.net/forms/embed/v2.js\"></script><!-- [et_pb_line_break_holder] --><script><!-- 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class=\"owl-content-des header-tit\">\n<div class=\"home-page-titles\">\n<p class=\"summary animated-item-1\" style=\"text-align: center;\">Deep industry knowledge</p>\n</div>\n</div>\n</div>\n</div>\n<div id=\"login-modal\"></div>\n</header>\n<section class=\" about tiles-module module bg-gray\">\n<div class=\"container text-justify\">\n<div class=\"row\">\n<div class=\"col-md-12\"></div>\n</div>\n</div>\n</section>[/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\" background_color=\"#f5f8f9\" custom_margin=\"||||false|false\" custom_padding=\"20px||0px||false|false\" 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_text _builder_version=\"4.27.4\" _module_preset=\"default\" global_colors_info=\"{}\"]<p 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class=\"team-container\"><!-- [et_pb_line_break_holder] -->    <!-- Tab Buttons --><!-- [et_pb_line_break_holder] -->    <div class=\"tab-buttons\"><!-- [et_pb_line_break_holder] -->        <button class=\"tab-button active\" onclick=\"showTab(\'leadership\')\">Leadership Team</button><!-- [et_pb_line_break_holder] -->        <button class=\"tab-button\" onclick=\"showTab(\'client\')\">Client Coverage</button><!-- [et_pb_line_break_holder] -->        <button class=\"tab-button\" onclick=\"showTab(\'product\')\">Product Team</button><!-- [et_pb_line_break_holder] -->        <button class=\"tab-button\" onclick=\"showTab(\'engineering\')\">Engineering Team</button><!-- [et_pb_line_break_holder] -->        <button class=\"tab-button\" onclick=\"showTab(\'board\')\">Board Members</button><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <!-- Tab Contents --><!-- [et_pb_line_break_holder] -->    <div id=\"leadership\" class=\"tab-content active\"><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'rashay\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Rashay-sq.png\" alt=\"Rashay Jethalal\"><!-- [et_pb_line_break_holder] -->            <h3>Rashay Jethalal, MBA, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>CEO</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'matt\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Matt-Coyle.jpg\" alt=\"Matt Coyle\"><!-- [et_pb_line_break_holder] -->            <h3>Matt Coyle</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Client Experience</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'john\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/John-Simmonds-1.jpg\" alt=\"John Simmonds\"><!-- [et_pb_line_break_holder] -->            <h3>John Simmonds, MBA, FPMI</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Business Development, UK & Europe</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'mike\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Mike-Heale-1.jpg\" alt=\"Mike Heale\"><!-- [et_pb_line_break_holder] -->            <h3>Mike Heale, MBA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Business Development, Rest of World</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'sadaf\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Sadaf-1.png\" alt=\"Sadaf Shaikh\"><!-- [et_pb_line_break_holder] -->            <h3>Sadaf Shaikh</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Talent and Business Management</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'adam\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Adam-1.jpg\" alt=\"Adam Silver\"><!-- [et_pb_line_break_holder] -->            <h3>Adam W Silver, MA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Operations</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'ye\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Ye-1.jpg\" alt=\"Ye Pynenburg\"><!-- [et_pb_line_break_holder] -->            <h3>Ye Pynenburg</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Finance</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'junior\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Junior-1.jpg\" alt=\"Junior Payne\"><!-- [et_pb_line_break_holder] -->            <h3>Junior Payne</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Engineering</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'chris\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Chris_Flynn-1.jpg\" alt=\"Chris Flynn\"><!-- [et_pb_line_break_holder] -->            <h3>Chris Flynn, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Product Development</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <div id=\"client\" class=\"tab-content\" style=\"display:none;\"><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'mike\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Mike-Heale-1.jpg\" alt=\"Mike Heale\"><!-- [et_pb_line_break_holder] -->            <h3>Mike Heale, MBA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Business Development, Rest of World</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'john\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/John-Simmonds-1.jpg\" alt=\"John Simmonds\"><!-- [et_pb_line_break_holder] -->            <h3>John Simmonds, MBA, FPMI</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Business Development, UK & Europe</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'fleur\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Fleur-1.png\" alt=\"Fleur Dubbelboer\"><!-- [et_pb_line_break_holder] -->            <h3>Fleur Dubbelboer</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, Netherlands & UK</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'davidj\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/david-jenning-1.png\" alt=\"David Jennings\"><!-- [et_pb_line_break_holder] -->            <h3>David Jennings</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, Nordics & UK</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'franco\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Franco-1.jpg\" alt=\"Franco Wang\"><!-- [et_pb_line_break_holder] -->            <h3>Franco Wang, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, North America</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'chrisd\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/ChrisD-1.jpg\" alt=\"Chris Doll\"><!-- [et_pb_line_break_holder] -->            <h3>Chris Doll</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, North America</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" ><!-- [et_pb_line_break_holder] -->            <!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'kevin\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Kevin-1.png\" alt=\"Kevin Vandolder\"><!-- [et_pb_line_break_holder] -->            <h3>Kevin Vandolder, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, U.S. East</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'ravi\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Ravi-1.jpg\" alt=\"Ravi Senthivel\"><!-- [et_pb_line_break_holder] -->            <h3>Ravi Senthivel</h3><!-- [et_pb_line_break_holder] -->            <p>Director, Client Coverage, North America</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <div id=\"product\" class=\"tab-content\" style=\"display:none;\"><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'chris\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Chris_Flynn-1.jpg\" alt=\"Chris Flynn\"><!-- [et_pb_line_break_holder] -->            <h3>Chris Flynn, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Product Development</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'adam\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Adam-1.jpg\" alt=\"Adam Silver\"><!-- [et_pb_line_break_holder] -->            <h3>Adam W Silver, MA</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Operations</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'joao\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Joao-1.jpg\" alt=\"Joao Barata\"><!-- [et_pb_line_break_holder] -->            <h3>Joao Barata</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'shayan\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Shayan-1.jpg\" alt=\"Shayan Bokhari\"><!-- [et_pb_line_break_holder] -->            <h3>Shayan Bokhari</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'maaike\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Maaike-1.jpg\" alt=\"Maaike van Bragt\"><!-- [et_pb_line_break_holder] -->            <h3>Maaike van Bragt, PhD</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Research Associate</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'rhijuta\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Rhijuta-1.jpg\" alt=\"Rhijuta Dahal\"><!-- [et_pb_line_break_holder] -->            <h3>Rhijuta Dahal</h3><!-- [et_pb_line_break_holder] -->            <p>Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'david\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/David_Dupont-1.jpg\" alt=\"David Dupont\"><!-- [et_pb_line_break_holder] -->            <h3>David Dupont, CFA</h3><!-- [et_pb_line_break_holder] -->            <p>Lead, Production</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'tanya\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Tanya-1.jpg\" alt=\"Tanya Durr\"><!-- [et_pb_line_break_holder] -->            <h3>Tanya Durr</h3><!-- [et_pb_line_break_holder] -->            <p>Manager, Operations</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'daniel\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Daniel-1.jpg\" alt=\"Daniel Griffiths\"><!-- [et_pb_line_break_holder] -->            <h3>Daniel Griffiths</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'edsart\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Edsart-Heuberger-1.jpg\" alt=\"Edsart X. Heuberger\"><!-- [et_pb_line_break_holder] -->            <h3>Edsart X. Heuberger</h3><!-- [et_pb_line_break_holder] -->            <p>Product Manager, PABS, GPTB, GRP</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'carl\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Carl_Ng-1.jpg\" alt=\"Carl Ka Ho Ng\"><!-- [et_pb_line_break_holder] -->            <h3>Carl Ka Ho Ng</h3><!-- [et_pb_line_break_holder] -->            <p>Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'palwasha\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Palwasha-1.jpg\" alt=\"Palwasha Saaim\"><!-- [et_pb_line_break_holder] -->            <h3>Palwasha Saaim, CFA, FRM</h3><!-- [et_pb_line_break_holder] -->            <p>Product Manager, Investment Benchmarking Subscription</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'yvette\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Yvette-1.jpg\" alt=\"Yvette van Velsen\"><!-- [et_pb_line_break_holder] -->            <h3>Yvette van Velsen, MSc</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'norayr\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Norayr-1.jpg\" alt=\"Norayr Vardanyan\"><!-- [et_pb_line_break_holder] -->            <h3>Norayr Vardanyan, MBA</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'janjaap\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Janjaap-1.jpg\" alt=\"Janjaap Weeda\"><!-- [et_pb_line_break_holder] -->            <h3>Janjaap Weeda</h3><!-- [et_pb_line_break_holder] -->            <p>Product Manager, Defined Contribution</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'victor\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Victor-1.jpg\" alt=\"Victor Miglo\"><!-- [et_pb_line_break_holder] -->            <h3>Victor Miglo</h3><!-- [et_pb_line_break_holder] -->            <p>Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'james\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/James_West-1.jpg\" alt=\"James West\"><!-- [et_pb_line_break_holder] -->            <h3>James West</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'laya\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Srilaya_Devireddy-1.jpg\" alt=\"Sri Laya Devireddy\"><!-- [et_pb_line_break_holder] -->            <h3>Sri Laya Devireddy</h3><!-- [et_pb_line_break_holder] -->            <p>Operations Analyst</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <div id=\"engineering\" class=\"tab-content\" style=\"display:none;\"><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'junior\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Junior-1.jpg\" alt=\"Junior Payne\"><!-- [et_pb_line_break_holder] -->            <h3>Junior Payne</h3><!-- [et_pb_line_break_holder] -->            <p>Head, Engineering</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'caradec\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Caradec_Bisesar-1.jpg\" alt=\"Caradec Bisesar\"><!-- [et_pb_line_break_holder] -->            <h3>Caradec Bisesar</h3><!-- [et_pb_line_break_holder] -->            <p>Team Lead & Senior Engineer</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'efron\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Efron-Berlian-1.jpg\" alt=\"Efron Berlian\"><!-- [et_pb_line_break_holder] -->            <h3>Efron Berlian</h3><!-- [et_pb_line_break_holder] -->            <p>Senior Engineer</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <div id=\"board\" class=\"tab-content\" style=\"display:none;\"><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'sandy\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/Sandy-Halim-1.jpg\" alt=\"Sandy Halim\"><!-- [et_pb_line_break_holder] -->            <h3>Sandy Halim</h3><!-- [et_pb_line_break_holder] -->            <p>Chair of the Board</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'johnm\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/johnm-1.jpg\" alt=\"John McLaughlin\"><!-- [et_pb_line_break_holder] -->            <h3>John McLaughlin</h3><!-- [et_pb_line_break_holder] -->            <p>President, Treasury Technologies International Inc.</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"card\" onclick=\"openModal(\'keith\')\"><!-- [et_pb_line_break_holder] -->            <img src=\"/wp-content/uploads/2024/12/keithA-1.png\" alt=\"Keith Ambachtsheer\"><!-- [et_pb_line_break_holder] -->            <h3>Keith Ambachtsheer</h3><!-- [et_pb_line_break_holder] -->            <p>President, KPA Advisory Services</p><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->    </div><!-- [et_pb_line_break_holder] -->    <div id=\"modals\"><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade modal-dark show\" id=\"rashay\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'rashay\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Rashay-sq.png\" class=\"profile-circle\"></div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Rashay Jethalal, MBA, CFA</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">CEO</h4><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Rashay joined CEM in 2021 and is responsible for overall strategy and performance of the business.<!-- [et_pb_line_break_holder] -->                            He is deeply passionate about improving the lives of retirees, insisting on a client-first approach to our growth.<!-- [et_pb_line_break_holder] -->                            Rashay brings over 20 years of experience in financial services, spanning asset management, capital markets, and transaction banking.<!-- [et_pb_line_break_holder] -->                            Rashay has held leadership roles at Purpose Investments, RBC, and CIBC, after being a management consultant at McKinsey & Company.<!-- [et_pb_line_break_holder] -->                            He holds an MBA from INSEAD and a Bachelor of Commerce (Honours) from the University of British Columbia.<!-- [et_pb_line_break_holder] -->                            He is also a CFA Charterholder.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"sandy\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                                        <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'sandy\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Sandy-Halim.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Sandy Halim</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Chair of the Board</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                            <!--<i class=\"fa fa-linkedin social-media-profile\"></i><a<!-- [et_pb_line_break_holder] -->                                    href=\"https://www.linkedin.com/in/sandy-halim-0b121935\" target=\"_blank\" class=\"profile-text\"><!-- [et_pb_line_break_holder] -->                                    /sandy-halim</a> <br />--><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Sandy joined CEM in 1993 and was its second employee. She was involved in the day-to-day operations including client service (many were CIEBA members), product development (including creating the Defined Contribution product), and management of what was essentially a start-up. Sandy has been trusted by boards and executives at the leading global pension funds to deliver fair and objective analysis, knowing that she always has had pension members’ best interests at heart.<!-- [et_pb_line_break_holder] -->                            Sandy retired from CEM and joined the CEM board in 2017 and now chairs the board. In addition to her board work at CEM, Sandy is active in several not-for-profits, including at the board level.<!-- [et_pb_line_break_holder] -->                            Sandy received her business degree from the University of Toronto and holds CFA and CPA designations.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"johnm\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                                        <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'johnm\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/johnm.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">John McLaughlin</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">President Treasury Technologies International Inc.</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            For the past 35 years through his own company, Treasury Technologies International Inc., John has advised business leaders in a wide variety of enterprises as they create, consider and execute strategic decisions. John has also been a principal in several successful start-up ventures.<!-- [et_pb_line_break_holder] -->                            John has extensive governance experience as a director of public and private corporations and in the not-for-profit sector.<!-- [et_pb_line_break_holder] -->                            John McLaughlin is a graduate of Ryerson University in Industrial Engineering Technology and the Schulich School of Business Administration. He holds the ICD.D director certification designation from the Rotman School of Business, University of Toronto and the Institute of Corporate Directors - Corporate Governance College.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"keith\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                                        <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'keith\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/keithA-1.png\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Keith Ambachtsheer</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\"><!-- [et_pb_line_break_holder] -->                            Director Emeritus, International Centre for Pension Management (ICPM)<!-- [et_pb_line_break_holder] -->                            Executive-in-Residence, Rotman School of Management, University of Toronto<!-- [et_pb_line_break_holder] -->                            Senior Fellow, National Institute on Aging (NIA), Ryerson University<!-- [et_pb_line_break_holder] -->                            President, KPA Advisory Services<!-- [et_pb_line_break_holder] -->                        </h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Keith Ambachtsheer has been a participant in the pensions and investments industry since 1969. He is recognized as one of the globe’s most original thinkers on pension design, governance, and investing issues.<!-- [et_pb_line_break_holder] -->                            Since its founding in 1985, KPA Advisory Services has become known as a trusted incubator for new thinking in pensions, and for providing strategic advice to a global clientele in person, and through the monthly<!-- [et_pb_line_break_holder] -->                            Ambachtsheer Letter. Moreover, he has strong ties to pension and investments through academia.<!-- [et_pb_line_break_holder] -->                            He has personal governance experience as a member of several corporate and not-for-profit boards and has served as Board Chair of<!-- [et_pb_line_break_holder] -->                            the Princess Margaret Cancer Foundation and continues as a member of its Emeritus Council. He is a member of the Mercer CFA Institute<!-- [et_pb_line_break_holder] -->                            Global Pension Index Advisory Council, the Georgetown University Center for Retirement Initiatives Scholars Council, the Network for<!-- [et_pb_line_break_holder] -->                            Sustainable Financial Markets, and the Tobacco Free Portfolios Global Advisory Council.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"mike\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                                        <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'mike\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Mike-Heale-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Mike Heale, MBA</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Business Development, Rest of World</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                            <!--<i class=\"fa fa-linkedin social-media-profile\"></i><a href=\"https://www.linkedin.com/in/mikeheale/\"<!-- [et_pb_line_break_holder] -->                                    target=\"_blank\" class=\"profile-text\"><!-- [et_pb_line_break_holder] -->                                    /MIKE-HEALE</a> <br />--><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Mike has a primary focus on global business development and client service within Europe,<!-- [et_pb_line_break_holder] -->                            the Middle East and Asia. Prior to joining CEM in 1997, Mike had twelve years of extensive<!-- [et_pb_line_break_holder] -->                            marketing experience in the pension and life insurance industry. Mike has led the firm\'s major<!-- [et_pb_line_break_holder] -->                            client growth and market expansion initiatives. He is a frequent speaker at various industry<!-- [et_pb_line_break_holder] -->                            conferences. Mike received his undergraduate degree in Physical and Health Education from Laurentian<!-- [et_pb_line_break_holder] -->                            and a Masters in Business Administration (MBA) from the University of Western Ontario.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"john\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'john\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/John-Simmonds-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">John Simmonds, MBA, FPMI</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Business Development, UK & Europe</h4><!-- [et_pb_line_break_holder] -->                        <h5>Business Development <br /> Europe</h5> <br /><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                            <!--<i class=\"fa fa-linkedin social-media-profile\"></i><a<!-- [et_pb_line_break_holder] -->                                href=\"https://www.linkedin.com/in/john-simmonds-22086421/\" target=\"_blank\" class=\"profile-text\"><!-- [et_pb_line_break_holder] -->                                /JOHN-SIMMONDS</a> <br />--><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            John is responsible for business development and client service in the UK and Ireland. <!-- [et_pb_line_break_holder] -->                            John has worked in the pension industry for over 30 years and counts many of the UK’s<!-- [et_pb_line_break_holder] -->                            largest pension schemes as clients.  He has written for numerous pension publications,<!-- [et_pb_line_break_holder] -->                            featured in the UK national press and is a regular presenter at industry seminars.  <!-- [et_pb_line_break_holder] -->                            John is a Fellow of the Pensions Management Institute (FPMI) with a Masters in Business<!-- [et_pb_line_break_holder] -->                            Administration from Warwick Business School. He previously worked for Deloitte and Arthur Andersen. <!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"edsart\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'edsart\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Edsart-Heuberger.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Edsart X. Heuberger</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Product Manager, PABS, GPTB, GRP</h4><!-- [et_pb_line_break_holder] -->                        <h4>Business Development <br /> Netherlands</h4> <br /><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Edsart has responsibility for business development and client service in the Netherlands.<!-- [et_pb_line_break_holder] -->                            Edsart joined CEM in 2008 as an analyst on the Pension Administration team and senior<!-- [et_pb_line_break_holder] -->                            analyst on the Investment team. He has an intimate and quantitative understanding of<!-- [et_pb_line_break_holder] -->                            CEM’s investment and pension administration services and database, and will continue<!-- [et_pb_line_break_holder] -->                            to conduct and support administration and investment research. Edsart has a Masters<!-- [et_pb_line_break_holder] -->                            of Science in supply chain management from Erasmus University Rotterdam, the Netherlands.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"davidj\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'davidj\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/david-jenning-1.png\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">David Jennings</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Director, Client Coverage, Nordics & UK</h4><!-- [et_pb_line_break_holder] -->                        <h5>Business Development <br /> Europe</h5> <br /><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            David joined CEM in early 2020 and is responsible for client service and business development in the UK and Europe.<!-- [et_pb_line_break_holder] -->                            David has worked in financial services for over 20 years building relationships with some of the largest UK pension schemes.<!-- [et_pb_line_break_holder] -->                            Prior to joining CEM, he worked for Fidelity International and Lazard Asset Management as a Client Relationship Manager. He<!-- [et_pb_line_break_holder] -->                            has a deep understanding of the challenges facing asset owners and is experienced in tailoring solutions for a wide variety<!-- [et_pb_line_break_holder] -->                            of situations. David has a Bachelor degree in Archaeology from the University of Southampton.<!-- [et_pb_line_break_holder] -->                            <!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"hannah\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'hannah\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"img/team/team-indiv/hannah.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">HANNAH BLOMFIELD</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Client Relationship Manager</h4><!-- [et_pb_line_break_holder] -->                        <h5>Business Development <br /> Europe</h5> <br /><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Hannah joined CEM in 2021 and is responsible for pension administration client service and business development in the UK and Ireland.<!-- [et_pb_line_break_holder] -->                            She has worked in the pension industry for over 20 years providing various services to many different pension funds within the UK, including<!-- [et_pb_line_break_holder] -->                            some of the largest and most complex. Prior to joining CEM, Hannah worked for several companies including Hewitt Associates, Capita and ITM,<!-- [et_pb_line_break_holder] -->                            specialising in pension calculations, pension processes, data quality and long-term projects. She has a bachelor’s degree in Mathematics from<!-- [et_pb_line_break_holder] -->                            the Open University, which has been put to good use many times throughout the past 15 years.<!-- [et_pb_line_break_holder] -->                            <!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"adam\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'adam\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Adam-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Adam W Silver, MA</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head of Operations</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Adam joined CEM in 2022 and is responsible for driving operational improvements in the business. His focus<!-- [et_pb_line_break_holder] -->                            at CEM is on making the work of our teams and interactions with our clients more efficient and effective.<!-- [et_pb_line_break_holder] -->                            He cares greatly about ensuring retirees can enjoy their retirement without having to overpay for that privilege.<!-- [et_pb_line_break_holder] -->                            Adam brings more than 20 years of work, across a variety of industries, including banking, insurance and technology<!-- [et_pb_line_break_holder] -->                            as both a consultant and executive. He began his career as an economist with S&P, became a management consultant with<!-- [et_pb_line_break_holder] -->                            McKinsey and recently had leadership roles at Farber and Mensana. He holds a Master of Arts from the University of<!-- [et_pb_line_break_holder] -->                            Toronto in Economics and a Bachelor of Arts (Honours) in Economics and Psychology from Queen’s University.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"fleur\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'fleur\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Fleur-1.png\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Fleur Dubbelboer</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Director, Client Coverage, Netherlands & UK</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Fleur joined CEM in September 2021 as a Director Client Coverage, she is responsible for UK and Dutch Corporate, Local Government and Public pension schemes.<!-- [et_pb_line_break_holder] -->                            Fleur cares deeply about having a personal relationship with her clients, and ensuring our reporting is accurate and timely to better enable management and board decision making.<!-- [et_pb_line_break_holder] -->                            Prior to joining , Fleur has over 10 years of experience at Goldman Sachs International and Goldman Sachs Asset Management. Whilst there she enjoyed various roles including, SPV and Hedge Fund strategies operations, Separately Managed Account Project Management and more recently as Client Relationship Manager for the UK and Ireland institutional Team. She has detailed knowledge of separately managed account strategies, in both the creation and management of these mandates. Fleur has a bachelor’s degree in Business Administration from the University of Bath.<!-- [et_pb_line_break_holder] -->                            Fleur lives in Tunbridge Wells, and when not working is busy renovating and running after her young daughters.<!-- [et_pb_line_break_holder] -->                            <!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"franco\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'franco\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Franco-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Franco Wang, CFA</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Director, Client Coverage, North America</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Franco is a Director at CEM Benchmarking who is responsible for client service in North America and parts of Asia. He was<!-- [et_pb_line_break_holder] -->                            previously an analyst on the Investment Benchmarking Service team, where he performed analysis and research for institutional investor clients. He<!-- [et_pb_line_break_holder] -->                            continues to leverage his extensive familiarity with CEM’s database to deliver insights to clients. He is a CFA Charterholder and has a degree in Accounting and<!-- [et_pb_line_break_holder] -->                            Financial Management from the University of Waterloo.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"tanya\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'tanya\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Tanya-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Tanya Durr</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Manager, Operations</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Tanya joined CEM over 20 years ago and is responsible for making CEM a great environment for our employees, clients and our partners.<!-- [et_pb_line_break_holder] -->                            Over the years she has met many of our clients at our conferences (which she has organized) after corresponding with them for years about<!-- [et_pb_line_break_holder] -->                            publications or invoicing. Tanya takes great pride in the office plants and is the keeper of the candy jar at the Toronto office front desk.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"sadaf\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'sadaf\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Sadaf-1.png\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Sadaf Shaikh</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Talent and Business Management</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Sadaf Shaikh joined CEM in 2022 and is responsible for HR, Talent, PMO, Contracts, and Office Services at CEM, ensuring our internal talent and business programs,<!-- [et_pb_line_break_holder] -->                            processes and corporate systems are optimized to support the high performance, growth culture at CEM. Sadaf brings over 15 years of broad HR,<!-- [et_pb_line_break_holder] -->                            Talent and process experience in financial services. Before joining CEM, Sadaf ran her own consulting practice and was an HR Business Partner at OMERS and Brookfield.<!-- [et_pb_line_break_holder] -->                            Sadaf is a Certified Human Resources Leader (CHRL), a Six Sigma Green Belt, and a Certified Executive Coach.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"junior\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'junior\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Junior-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Junior Payne</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Engineering</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Junior joined CEM in 2023 as the Head of Engineering at CEM Benchmarking, where he tackles key challenges and develops innovative solutions. Leading through inspiration,<!-- [et_pb_line_break_holder] -->                            his expertise helps foster collaboration and drives advancements that enhances team efficiency and industry standards. Prior to CEM,<!-- [et_pb_line_break_holder] -->                            Junior created a cybersecurity product at Architelos, built a high-performing technology team at Research in Motion, and shifted strategic direction at AuthenticWeb.<!-- [et_pb_line_break_holder] -->                            When not at work, Junior enjoys the outdoors with running, hiking, and kayaking, allowing him to recharge and set a positive example for his team.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"ye\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'ye\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Ye-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Ye Pynenburg</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Director, Finance</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Ye Pynenburg joined CEM in 2023 and is responsible for all aspects of financial management of the business including accounting, financial planning, tax and treasury.<!-- [et_pb_line_break_holder] -->                            She brings more than a decade of financial experience working with both public and private clients in various industries and sizes.<!-- [et_pb_line_break_holder] -->                            Prior to joining CEM, Ye held positions at Rogers Communications Inc. and PwC in both their Consulting & Deals and Audit & Assurance practices.<!-- [et_pb_line_break_holder] -->                            Ye received both her Masters of Accounting and Bachelors of Accounting and Financial Management from the University of Waterloo. She also holds Chartered Business Valuator (CBV) and Chartered Professional Accountant (CPA, CA) designations.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"matt\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'matt\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Matt-Coyle.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Matt Coyle</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Client Experience</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Matt joined CEM in 2024 and is responsible for leading communities, marketing and client experience. He brings over 15 years of senior leadership,<!-- [et_pb_line_break_holder] -->                            holding positions at Maple Leaf Sports & Entertainment, Cineplex Entertainment and Purpose Investments. Matt uses his training in design thinking to develop delightful moments for our customers.<!-- [et_pb_line_break_holder] -->                            He is a board of director at the Halton Field Hockey Club and in his spare time love to travel with his family. If you\'re ever traveling to Walt Disney World, feel free to ask him for some tips.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"jim\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'jim\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/JimS-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Jim Stamper</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Business Development, U.S. West</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                            Jim has a primary focus on business development and client service within the U.S west coast. Prior to joining CEM in 2022,<!-- [et_pb_line_break_holder] -->                            Jim spent over 10 years in the asset management industry in consultant relations and institutional client service roles.<!-- [et_pb_line_break_holder] -->                            Jim also spent over 10 years as a consultant with AON Hewitt in the defined contribution space where he worked with plan sponsors<!-- [et_pb_line_break_holder] -->                            on investment manager selection and plan design.<!-- [et_pb_line_break_holder] -->                            <br /><br /><!-- [et_pb_line_break_holder] -->                            Jim received a BA in International Relations from Michigan State University.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                </div><!-- [et_pb_line_break_holder] -->            </div><!-- [et_pb_line_break_holder] -->        </div><!-- [et_pb_line_break_holder] -->        <div class=\"modal fade  modal-dark show\" id=\"chris\" role=\"dialog\" style=\"display: none;\"><!-- [et_pb_line_break_holder] -->            <div class=\"modal-dialog modal-default-dialog\"><!-- [et_pb_line_break_holder] -->                <div class=\"modal-content modal-default-content animated fadeIn\"><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-header modal-default-header\"><!-- [et_pb_line_break_holder] -->                        <button type=\"button\" class=\"close\" onclick=\"closeModal(\'chris\')\"><!-- [et_pb_line_break_holder] -->                            ×<!-- [et_pb_line_break_holder] -->                        </button><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_break_holder] -->                    <div class=\"modal-body modal-default-body text-center\"><!-- [et_pb_line_break_holder] -->                        <div><img src=\"/wp-content/uploads/2024/12/Chris_Flynn-1.jpg\" class=\"profile-circle\"> </div><!-- [et_pb_line_break_holder] -->                        <h3 class=\"animated fadeInDown\">Chris Flynn, CFA</h3><!-- [et_pb_line_break_holder] -->                        <h4 class=\"animated fadeInDown\">Head, Product Development</h4><!-- [et_pb_line_break_holder] -->                        <div class=\"text-center\" style=\"padding-top:10px\"><!-- [et_pb_line_break_holder] -->                        </div><!-- [et_pb_line_break_holder] -->                        <p class=\"profile-desc\"><!-- [et_pb_line_break_holder] -->                                                        Chris has been with CEM since 2003 and is currently Head, Product Development as well as Head of Research.<!-- [et_pb_line_break_holder] -->                            He leads the evolution of CEM’s core models and analysis, and in customizing those models to meet client needs.<!-- [et_pb_line_break_holder] -->                            He oversees the research team in conducting best practice research, custom work for clients and partnering with outside researchers.<!-- [et_pb_line_break_holder] -->                            Chris has deep experience presenting or partnering with clients to conduct analysis and research to clients and has testified as an expert on pension fund costs.<!-- [et_pb_line_break_holder] -->                            Prior to working at CEM, Chris worked as a developer at an investment management firm.<!-- [et_pb_line_break_holder] -->                            He holds a Bachelor of Science(Honours) in Quantitative Economics from the University of Toronto and is a CFA Charterholder.<!-- [et_pb_line_break_holder] -->                        </p><!-- [et_pb_line_break_holder] -->                    </div><!-- [et_pb_line_bre