From Modernization to Measurable Business Value: The Future State of Retirement & Pension Plan Administrators

For many retirement and pension organizations, modernization is still discussed like a future-state ambition. But the more useful question is not whether to modernize, it is what makes modernization possible.

The UFCW & Employers Trust story reflects this modernization potential.

Rather than treating technology as a back-office replacement project, UFCW used modernization to rethink how retirement and pension administration could work across operations, service, governance, and scale. Their phased approach included upgrading to Majesco V3locity[DG1] , replacing legacy systems, and centralizing administration operations.

What stands out is that the value did not come from one feature or function. It came from a set of practical use cases that, when combined, reduced friction, improved responsiveness, and created a stronger operating model.

Why this story matters

Like many organizations, UFCW did not start from a blank slate. Their journey points to familiar challenges: legacy technology, paper-based pension processes, siloed operations, limited coordination and governance, slow decision-making, and high staffing needs paired with low automation.

That combination is exactly why so many transformation efforts stall. The problem is rarely just one outdated system. It is a combination of disconnected tools, manual workarounds, and fragmented ownership compounding over time.

UFCW’s modernization effort addressed that problem directly by focusing on a more integrated, scalable model.

The business priorities behind the transformation

For UFCW, they focused on some key business priorities to shape their modernization and transformation program outlined below:

1. Consolidating operations onto a fully integrated platform

One of the clearest priorities is platform consolidation.

The organization’s objective was to bring operations onto a fully integrated platform, eliminate redundancies and adjunct vendors, and make better use of solution capabilities for the business. That matters because fragmented administration models do more than create IT complexity. It slows handoffs, obscures accountability, and makes it harder to standardize, let alone elevate service.

In UFCW’s case, modernization created a new operating model and technology foundation for bringing retirement and pension functions together instead of managing them in silos. The organization centralized all retirement and pension functions after selecting the V3locity platform.

Why this is important for the market: modern technology is not just about adding new capabilities. It is also about removing the structural inefficiencies that keep organizations from operating as one unified enterprise.

2. Turning manual work into automated workflows

Equally important was redefining workflows with automation.

The modernization objectives included enabling dynamic, automated workflows and reducing manual touchpoints across the operation. Tools such as auto-adjudication and digital imaging became part of the transformation, helping streamline operations and reduce manual work.

That is where modern technology starts to move from infrastructure to business impact.

Automation is often discussed in abstract terms, but the practical value is simple: fewer repetitive tasks, fewer delays, and more time spent on work that requires judgment. In retirement and pension administration, that can mean faster processing, cleaner workflows, and increased consistency across teams.

For organizations still dependent on paper and manual-heavy processes, this is one of the most immediate and meaningful modernization business value opportunities.

3. Expanding self-service for better member and staff experiences

Another high-value priority was self-service.

Their modernization goals included enhancing member and staff experiences through real-time functionality. That signals a shift away from administration models where every question, update, or request has to pass through staff manual intervention.

Modern self-service matters because it improves both sides of the equation. Members, participants, and employers get faster access to information and actions. Staff teams spend less time managing routine inquiries and more time focusing on higher-value support.

The business value shows clearly in UFCW’s results. They reported response times dropping from seven minutes to under 30 seconds. That kind of improvement is not just an operational win; it is a loyalty and trust win because it changes the day-to-day experience people have with the organization.

4. Using modernization to improve governance, not just efficiency

Equally high, but often overlooked priority was governance.

UFCW repeatedly connects modernization with stronger governance, centralized compliance, clearer accountability, and improved decision-making … a critical point. In complex retirement and pension operational environments, technology does not just need to process transactions, it must support better oversight and more disciplined operations.

Too often, governance is treated as a separate activity from modernization. UFCW’s story suggests the opposite. Governance becomes more achievable when the platform, workflows, and responsibilities are aligned.

That is especially relevant for organizations trying to scale without creating and accelerating operational complexity.

5. Creating room for scalable growth

The final priority was scalable growth.

The organization’s stated objectives included driving growth without increasing headcount. The modernized platform today supports more than 275,000 members with room for further growth as well as a 33% increase in operational efficiency that contributed to a strong overall ROI.

This may be the strongest argument for modern technology right now.

Organizations are under pressure to improve service, manage complexity, and adapt to changing demands, but few have the option to solve those challenges simply by adding more people. Modern platforms, automation, and self-service help create a different model, one where growth is supported by better operating leverage rather than more administrative drag.

The market insight is telling

The business priorities and subsequent outcomes are worth paying attention to. With a 33% increase in operational efficiency, reduced response times from seven minutes to under 30 seconds, stronger governance, and a scalable platform that supports 275,000+ members and more in the future.  With 13 retirement and pension funds live and four more targeted in 2026, UFCW is well on their way to scalable growth. 

Those are not soft benefits; they are real business outcomes.

Importantly, it reinforces that the results were enabled by a phased implementation strategy designed to support operational alignment and minimize disruption.  This is a crucial point …  successful modernization is rarely one big leap. It is a deliberate sequence of changes that build confidence and value over time.

The bigger takeaway for the industry

UFCW’s modernization program is not just about adopting new technology. It is about what becomes possible when modern technology is applied to real operational transformation priorities.  It can:

• Transform and consolidate fragmented operations.
• Automate manual, paper-heavy work.
• Improve responsiveness through self-service and real-time access.
• Strengthening governance and accountability.
• Create the operating capacity to scale the future business.

This is the real modernization and transformation conversation the industry must have today.   Not modernization for its own sake but modernization as a practical enabler of a new operating model that delivers real business outcomes.

Looking to the future

The future of retirement and pension is rapidly moving beyond modernization and transformation into one that will take advantage of a new operating model and technology foundation to accelerate business optimization and innovation.  This includes expanding AI capabilities, deepening intelligent automation, enhancing self-service, access to real-time data for operational and strategic needs, and maintaining strong governance.

Modernization is not a one-time finish line but a foundation that allows organizations to keep evolving their business in terms of optimized operations, scalable growth, strong business outcomes and elevated service.

But it requires a first step … selecting a new cloud-native technology platform that will provide the foundation needed to empower organizational agility, scale and innovation in a rapidly changing market. 

Co-Authors:

Denise Garth, Chief Strategy Officer, Majesco and Jessica Hurley, Senior Specialist in Strategic Marketing at Majesco