As the pensions industry accelerates toward scheme consolidation, through buyouts, superfunds, and efficient run-on platforms – there’s an equally pressing need for technology to keep pace.

In our recent webinar hosted by The Actuary’s Christian Doherty and presented by Gavin Watts and Matthew Leathem from Mantle, we explored the case for tech and pension software consolidation and what it means for pension providers in the new world. 

Mantle’s Gavin Watts discusses our five key take aways below and next steps to consider: 

Key take aways

1. Consolidation is Inevitable – But Not Just for Schemes 

The pensions market is rapidly shifting as schemes move toward endgame solutions. Yet, while we often focus on consolidating liabilities, the underlying technology infrastructure must not be left behind. Legacy systems, manual workarounds, and fragile integrations create inefficiencies and risks that are no longer sustainable. 

2. The Tech Pain is Real and Growing 

Many pensions’ operations rely on outdated systems and tactical fixes (yes, we’re talking about that key spreadsheet managed by the semi-retired subject expert). This tangled ecosystem is vulnerable to regulation changes, increases operational risk, and hampers innovation. 

3. Consolidation Beats Automation Alone 

While automation streamlines processes, true tech consolidation simplifies the entire ecosystem—fewer systems, fewer handoffs, fewer risks. A consolidated technology platform seeks to minimise duplication of functionality and data storage, with interactions happening by design rather than patching together separate systems with their own unique requirements. 

4. Design the designation

Consolidation does not mean implementing a single piece of software which handles every aspect of your operations; I doubt such a piece of software exists! Instead, focus on the operational processes which naturally fit together, those which are currently a source of pain, and protect the ones which are better than others in your sector. Understanding what is in the market is a great place to get a sense of what is possible, but as any technology professional will tell you, focus on requirements before solutions. 

5. Plan big, execute small

The transition does not need to be a “big bang” move. Once you have your plan, consider how best to manage your transition so you get the early wins, and build a strong foundation for subsequent changes to follow.  

Final thoughts

Modernising your pensions technology isn’t just about innovation—it’s about survival in a rapidly evolving market. The case is clear: if your schemes are consolidating, your software should be too. 

To recap on the webinar, watch it here. For further information on Mantle and how we can help you with your pension management processes, visit our website www.mantleservices.com or email us at enquiries@mantleservices.com   

Gavin Watts

Product Owner (Actuarial)

Blog

17 Jul 2025

If you qualified as an actuary in the UK any time in the last quarter-century, there is one thing we all share: the “orange book.” For me, the “Formulae and Tables for Actuarial Examinations” was a constant companion through university, the professional exams and sometimes even for my work on defined benefit pension schemes. This year, the Institute and Faculty of Actuaries is retiring that iconic volume. The change marks the end of an era and invites a bigger question: what era are we entering?  

Actuary 1.0, a Day in the Life of a Calculator

My placement year in 2011 was my first taste of the actuarial world. Back then, the actuary’s desk was a landscape of paper, a scientific calculator, and the undisputed king of the office: Microsoft Excel.    

By 2011, actuaries had adapted to the seismic shift brought about by the Pensions Act 2004, as most schemes went through their second or third valuation cycle. The Pensions Act 2004 expanded the profession’s remit dramatically. The old Minimum Funding Requirement was gone, replaced by a far more demanding regime of scheme-specific funding, recovery plans, and s179 valuations for the newly formed Pension Protection Fund.    

Actuary 1.0 was a Microsoft Excel expert, able to build complex models from scratch and automate processes using VBA. As good as those models were, like any complex spreadsheet they were often fragile, sometimes opaque, and almost always came with a high chance of human error. Actuary 1.0’s favourite tool also created a significant vulnerability.    

For many schemes, particularly smaller ones with limited budgets, the actuary’s time was almost entirely consumed by just producing “the number”. There was little time or budget left for the strategic advice they now desperately needed, such as discussions on journey plans, investment risk, or employer covenant. The output was a static report, not a strategic conversation.  

Actuary 2.0, a Day in the Life of a Consultant

When I joined the profession as a graduate in 2014, my first major project was migrating clients from those Excel models onto Mantle. It was immediately clear that this wasn’t just a system migration; it was a complete transformation of the actuarial process. 

Because the pension management platform enables integrated administration processes and actuarial calculations, the painful and time-consuming process of data checking and migration is minimised. The data is live and trusted. Cloud processing means that valuations take minutes rather than needing to be left to run overnight.    

Actuary 2.0’s time is freed up to focus on having strategic conversations with clients rather than producing “the number.” Advice that had once been affordable only for the largest schemes became available to all.    

Using interactive dashboards, we can sit with trustees and model ‘what-if’ scenarios in real-time, exploring the impact of different investment strategies or contribution plans. We can have meaningful, proactive conversations about Integrated Risk Management and monitor a scheme’s journey plan against its long-term goals, rather than just reporting a static position every three years.    

We no longer just deliver a number. We help clients understand what it means and what to do next.    

Actuary 3.0, a Day in the Life of a Strategist

As we look ahead 25 years to when the next tables book might be due, it’s clear the pace of change is only accelerating. We don’t even have to look that far into the future to see the next wave of change. The Pension Schemes Bill is set to fundamentally alter the landscape for DB schemes, demanding an even more strategic approach from actuaries. 

The conversation with trustees is no longer just ‘How do we get to buyout?’. It’s now a multi-faceted strategic discussion: Should we run-on to generate more surplus? Could that surplus be used to enhance member benefits or be returned to the sponsor to invest in their business? Is a superfund a better fit for our risk profile? Answering these questions requires a level of strategic modelling and advisory skill that goes far beyond the old world of pure calculation. 

This new strategic complexity is where the future of our profession lies, and it will be powered by technology. What will the “2050 tables book” look like? It won’t be a book at all. I believe it will be a set of professionally endorsed APIs that feed live data on systemic risks (like climate change or longevity volatility) directly into platforms. The actuary’s job won’t be to look up a factor, but to interpret the output and apply their professional judgment to the scheme’s specific circumstances.    

Artificial Intelligence and Machine Learning will handle the next layer of work. They won’t just automate calculations; they will perform complex data analysis, enhance assumption setting, and run predictive models.    

Actuary 3.0 will be a true strategist. Data science literacy and AI ethics will be non-negotiable skills. Most importantly, Actuary 3.0 will need the ability to communicate the output of these incredibly complex models into a clear strategic narrative for clients.

Get in touch 

Mantle relative to many legacy platforms can transform the experience for The orange book on my shelf stands for mastery of calculation. Its retirement signals our shift toward mastery of strategy, communication and judgement.    

If you would like to talk about freeing your team from number-crunching and shifting the focus to strategy, get in touch. Contact us at enquiries@mantleservices.com or visit our website www.mantleservices.com for further information on our innovative pension software.  

Matthew Leathem

Actuarial Solutions Lead

Blog

16 Jul 2025

The UK pensions landscape shows an increasing focus on consolidation, evident in the growth of Master Trusts, a vibrant buy-out market and the need for efficient run-on solutions. But as schemes and members consolidate, what about the often-fragmented software infrastructure that supports the administration and actuarial operations?

Brought to you by Mantle and The Actuary Magazine, this webinar explores the theme of consolidation in respect of the pension’s technology landscape. Watch the on-demand webinar as we discuss the drivers for change, how fragmented tech stacks can mirror the inefficiencies and risks that drive scheme consolidation, and what considerations you need to take to address these issues before it is too late.

Key speakers include Mantle’s Actuarial Product Owner, Gavin Watts and Mantle’s Actuarial Solutions Lead, Matthew Leathem.

Why attend?

Explore a new dimension of pensions consolidation

Hear directly from our actuarial experts

Learn how rethinking your approach to technology can drive efficiency, enhance client service, and better position you for the future.

Meet the speakers

Gavin Watts Engineering / Development / Product

With FIA CERA credentials and a passion for transformative problem-solving, Gavin brings nearly two decades of actuarial expertise that bridges cutting-edge technology with strategic insight. As Mantle’s new Product Owner,…

Matthew Leathem Operations

Matthew is a Fellow of the Institute and Faculty of Actuaries and leads our actuarial team. Matthew brings a wealth of expertise and experience to the team, with a background…

We caught up with Mantle’s Danielle Wilson and Matthew Leathem on their key insights learnt from attending the recent CCA conference. 

The CCA conference provided a fascinating look at the seismic changes reshaping the global landscape – from demographic decline in the developed world to the explosion of population growth in emerging markets. These trends have profound implications, not just for geopolitics, but also for those managing retirement plans. 

The “Shape of Things to Come” session presented by The Terry Group, Global Aging Institute and LifeCourse Associates explored how birthrates have collapsed across much of the developed world, leading to aging populations, shrinking workforces, and mounting fiscal burdens. Meanwhile, Africa’s population is set to outpace Europe 6x by 2100. This shift could fuel the rise of isolationism, protectionism, and even conflict as established powers feel threatened by emerging ones.   

However, the session also explored potential solutions to stave off demographic and economic decline, from implementing pro-natal policies like Poland’s significant child benefits, to increasing immigration and extending working lives. These strategies could help countries navigate the economic and geopolitical challenges of the twenty-first century. 

But the demographic transformation also creates challenges closer to home for retirement plan administrators. The “Small Plan Administration and Corrections” session dived into the unique complexities facing small plan managers, from eligibility issues to miscalculated benefits. Experts from National Professional Planning Group, Poyner Spruill and Pinnacle Plan Design, LLC highlighted the IRS correction programs available, but also underscored the importance of staying on top of an ever-evolving regulatory landscape. 

In-house plan administration, more common in the US than the UK, brings a higher risk of errors. And with just 18 months to identify and rectify problems, the stakes are high. Throw in nuanced accounting standards and tricky overpayment structures, and it’s clear that small plan admins have their work cut out for them. 

The demographic and regulatory trends reshaping our world are not going away anytime soon. But by staying ahead of the curve, retirement plan professionals can navigate these choppy waters and ensure their plans remain compliant and their participants are properly served. 

Mantle’s Founder and Director, Mike Selby commented on the CCA: “The conference really highlighted both the challenges and opportunities in the US market. While there are unique elements to consider, we’re confident that our deep understanding of the pension space not only translates well but can bring a fresh perspective to the US market. The demographic challenges we’re seeing are global in nature, and our experience in navigating similar transitions in other markets positions us well to add value here. 

We were really impressed with the CCA Annual Meeting and are looking forward to attending again next year.” 

To find out more on each of the sessions discussed above including Mantle’s presentation, visit the CCA website here. 

Susan O'Neill

Marketing Manager

Blog

15 Nov 2024

Mantle launches in the US and sponsors the upcoming Conference of Consulting Actuaries (CCA) Annual Meeting

Following significant demand, Mantle is delighted to bring its revolutionary software to the US market this October.  

Mantle is delighted to showcase its market leading Administration and Actuarial pension management software at the upcoming CCA Annual Meeting taking place between the October 27th – 30th 2024 in the JW Marriott, Marco Island, Florida. 

The CCA Annual Meeting brings together over 500 actuarial leaders to connect, share emerging insights, innovative ideas and strengthen industry knowledge. With over 60 educational sessions and various networking opportunities planned, the conference is set to be an eventful four days of learning and engaging with key industry leaders.   

Speaking about Mantle’s launch and the CCA conference Mantle’s Mike Selby, Founder and Director commented:  

“We’re delighted to attend the CCA Annual meeting and excited to have the opportunity to share our vision with industry leaders in the actuarial market. 

As we launch into the American market, we’re not just expanding our business, we’re bringing innovative solutions to the pensions management market, expanding our partnerships and positioning Mantle as the new frontier in pensions software management.” 

If you’re attending the conference and would like to meet with our team, you can visit us in the sponsors display area. Alternatively, contact us at enquiries@mantleservices.com to arrange a meeting or your free personalised demo slot. 

We look forward to seeing you there! 

Susan O'Neill

Marketing Manager

News

25 Sep 2024