The North American retirement and pensions ecosystem is at a turning point. Recordkeepers and Third-party Administrators (TPAs) are struggling with aging technology platforms, expanding regulatory mandates, and growing expectations for seamless digital experiences. While both segments exhibit strong foundational capabilities in compliance and operational stability, overall digital maturity remains moderate. The gap between current capabilities and best-in-class performance underscores the need for greater structural agility, proactive compliance, and AI-enabled service delivery models.
This Viewpoint leverages Everest Group’s 2025 Retirement and Pensions Digital Maturity Survey to provide detailed benchmarks across digital maturity, experience excellence, operational and cost efficiency, and regulatory adherence. It outlines how recordkeepers must evolve from operational gatekeepers into data-driven, participant-centric orchestrators, while TPAs must transition from reliable processors to digitally enabled experience leaders. Key strategic imperatives include modernizing legacy platforms, embedding compliance into automated workflows, and reducing cost-to-serve through AI and straight-through processing.
The report offers forward-looking guidance for enterprises, providers, and technology partners seeking to transform the retirement ecosystem. It presents a pragmatic roadmap for enhancing participant value, improving unit economics, and building long-term resilience in an increasingly complex and dynamic environment.
