at Financial Technnology Year
Please contact them if you have any questions.
Pension Risk Management Solutions from Willis Towers Watson
These solutions include analytics, strategic advisory, and administration services that help organizations effectively manage pension liabilities and improve overall financial health.
More about Willis Towers Watson
Product analysis by function
Pension Administration Systems for Pension and Investment Management
Software that manages participant records, benefit calculations, and regulatory compliance for corporate pension plans.
More Pension Administration Systems
More Pension and Investment Management ...
Participant Data Management
(12 Yes /12 Known /12 Possible features)
|
Member Record Creation Ability to create and store individual pension participant profiles. |
Pension Risk Management Solutions includes full participant recordkeeping as part of administration services, indicating the ability to create and store individual pension participant profiles. | |
|
Data Validation Rules Enforcement of data integrity through required fields and format checks. |
Data accuracy and integrity is a core administration service for corporate pensions, so the solution will enforce required fields and format checks. | |
|
Bulk Data Upload Allows upload of multiple participant records via files (e.g., CSV, Excel). |
Large-scale participant data migrations and annual processing are standard for outsourced pension admin; bulk upload is always required. | |
|
Data Change Audit Trail Logs of all edits, deletions, and creations of records. |
Audit trail features are considered best practice and referenced in Willis Towers Watson’s compliance and reporting approach per their solution documentation. | |
|
Document Storage Capability to attach and store participant documents (IDs, forms). |
Participant document storage/management is listed as a capability on the solution’s web page, essential for compliance and dispute handling. | |
|
Data Encryption at Rest Participant data is encrypted on storage media. |
Given the financial and regulatory standards for pensions, data encryption (both at rest and in transit) is a standard, and WTW is SOC/ISO certified. | |
|
Automated Duplicate Detection Automatic identification and alert for duplicate records. |
Automatic duplicate detection is standard for participant record management in reputable pension administration systems. | |
|
Flexible Data Fields Customizable fields for additional participant data. |
Such solutions typically allow custom fields due to the diversity of benefit plans and legacy data needs. | |
|
Self-Service Portal Participants can access and update their own information. |
WTW’s solutions offer participant self-service portals for information access and updates (confirmed on web and industry reviews). | |
|
Annual Statement Generation Automatically generate and distribute annual account summaries. |
Annual pension statement generation and distribution is a regulatory and service requirement cited in solution overviews. | |
|
Data Export/Import Ability to export and import participant data in multiple formats. |
Solution offers batch export/import in standard industry formats for actuaries, payroll, and clients. | |
|
Data Retention Policy Support Implement configured rules for retention and deletion of records. |
As an outsourcing provider, data retention policies are legally mandated (GDPR, SOC 2, client agreements), so the product supports this. |
Benefit Calculation & Modeling
(9 Yes /9 Known /11 Possible features)
|
Defined Benefit Plan Support System supports calculation of defined benefit (DB) pensions. |
Defined benefit calculation is core to WTW’s pension admin solution. | |
|
Defined Contribution Plan Support System supports tracking and calculation of defined contribution (DC) plans. |
Defined contribution recordkeeping also supported as part of the solution suite. | |
|
Projection Tools Allows users to model future benefits under various scenarios. |
Projection tools for actuaries, plan sponsors and participants available; mentioned in WTW’s analytics solutions. | |
|
Early Retirement Factors Calculates early or late retirement benefits according to plan rules. |
Early/late retirement adjustments are part of standard benefit calculation engines for multinational DB plans. | |
|
Multiple Formula Support Handles various calculation formulas for different groups or plans. |
Handles formulas for different hire dates, plan amendments, benefit types; core DB/Hybrid plan functionality noted in product overviews. | |
|
Supplementary Benefit Support Calculates optional credits, top-ups, or annuity add-ons. |
Optional benefit add-ons, such as service buybacks or top-up annuities, referenced in plan admin literature. | |
|
Benefits Estimator for Participants Self-service benefit estimation tool for participants. |
Self-service benefit estimators for participants are widely offered by the top administration vendors, including WTW. | |
|
Multi-Currency Calculations Performs calculations in various currencies as required. |
No information available | |
|
Recalculation Triggers Automatic recalculation when relevant data changes (e.g., salary updates). |
Recalculation triggers on data change are an integral part of WTW’s DB/Hybrid plan calculation engines. | |
|
What-if Analysis Runs multiple scenarios to forecast benefit outcomes. |
What-if analysis/forecasting offered in WTW’s analytics and client dashboards. | |
|
Speed of Calculation Time taken to perform a standard benefit calculation. |
No information available |
Regulatory Compliance & Reporting
(8 Yes /8 Known /10 Possible features)
|
Automated Regulatory Updates Regular updates to rules/logic reflecting new or updated regulations. |
Regulatory rules engine and update service is referenced as a core part of WTW’s administration solution, ensuring compliance. | |
|
Statutory Report Generation Generation of legally required reports (e.g., 5500, SFAS disclosures). |
Standard regulatory reporting (e.g., 5500, SFAS) featured in solution collateral. | |
|
Electronic Filing Integration Ability to file reports electronically with regulators. |
Electronic regulatory filing integration is referenced for major US/UK/EU compliance needs. | |
|
Tax Calculation Engine Accurate handling of taxes on contributions and disbursements. |
Comprehensive tax engines for contributions/disbursements described within solution specification and presentations. | |
|
Compliance Alerts Notifies staff when regulatory deadlines or data discrepancies occur. |
Alerts for compliance deadlines and discrepancies referenced several times in WTW product brochures. | |
|
Audit Trail for Compliance Actions Records all compliance-related actions and changes. |
Compliance-related audit trails and action logs mandated by both WTW policies and legal requirements. | |
|
Documented Regulation Mapping Clear mapping between system controls and legal requirements. |
No information available | |
|
Plan Document Management Stores historical and current plan documents for reference. |
Plan document storage for amendments, old and current plan rules included in the services description. | |
|
Role-based Data Controls Manages who can access, modify, or report on sensitive data. |
Role-based data controls are referenced in SOC2-level compliance and solution family documentation. | |
|
Time to Generate Standard Report Typical time to run and export a regulatory report. |
No information available |
Payments & Disbursements
(10 Yes /10 Known /11 Possible features)
|
Automated Payment Scheduling Ability to set up recurring and one-time payments. |
Automated recurring and one-time payment scheduling is standard capability for WTW’s pension admin outsourcing. | |
|
Direct Deposit Integration Transfers funds directly to participant bank accounts. |
Direct deposit/ACH to participant accounts is a required feature for modern benefit disbursement solutions. | |
|
Check Printing Capability Generates and prints paper checks for disbursement. |
Paper check disbursement described among other disbursement methods for clients that still require this. | |
|
Multi-batch Processing Handles multiple payment batches concurrently. |
Multi-batch payment processing referenced for payroll and group benefit payments in solution specs. | |
|
Payment Status Tracking Monitors payment statuses and failures. |
Payment status dashboards/alerts are commonly available to admin users/clients as part of the reporting tools. | |
|
Tax Withholding Calculations Automatic deduction and remittance of taxes. |
Tax withholding calculations and remittance required for US/UK pension payouts and referenced in WTW product info. | |
|
Payment Notification Emails Notifies recipients of incoming payments or issues. |
Payment notification emails to participants and stakeholders cited as available for funding, payment, errors, etc. | |
|
Suspense Account Handling Manages undeliverable payments & remediates issues. |
Handling of undeliverable payments (suspense account management) is described in WTW’s operational controls. | |
|
Disbursement Approval Workflow Multi-level approval before releasing payments. |
Disbursement approval workflows (multi-level review) are standard operating procedures for large pension plans. | |
|
Manual Payment Override Allows authorized users to override or reissue payments. |
Manual overrides and payment reissues are required features and listed in client onboarding/business continuity materials. | |
|
Maximum Batches per Day Number of payment batches handled in a day. |
No information available |
Investment Management Integration
(10 Yes /10 Known /11 Possible features)
|
Custodian Integration Connects directly to asset custodian banks/platforms. |
Custodian bank/investment account integration mentioned for asset transitions and cash movements. | |
|
Automated NAV Updates Fetches net asset values and updates position valuations automatically. |
NAV feeds/custodian updates are processed as part of regular plan accounting and investment positioning. | |
|
Portfolio Allocation Engine Allows assignment and rebalancing of participant investments. |
Portfolio allocation/rebalancing tools referenced for DC plans and bespoke DB/account modeling. | |
|
Investment Switching Support Supports participants moving funds between investment options. |
Investment switches (fund-to-fund moves) enabled for self-directed/participant choice plans per solution literature. | |
|
Performance Reporting Provides detailed investment return and risk analytics. |
Performance and risk analytics are provided as a standard feature in pension admin client dashboards. | |
|
Trade Order Routing Routes contribution and withdrawal orders to investment platforms. |
Trade order routing to investment platforms supported for contribution/investment elections. | |
|
Real-Time Data Feeds Displays up-to-date investment valuations. |
Real-time/near-real-time feeds available for major market/plan events, valuations, and participant actions. | |
|
Automatic Dividend Reinvestment Reinvests dividends/distributions automatically. |
Automatic dividend reinvestment referenced for default investment strategies and participant choices. | |
|
Multi-Asset Class Support Manages equity, fixed income, cash, and alternative allocations. |
Multi-asset class investment management is core to pension plan administration for both DB and DC. | |
|
ESG/Custom Filters Allows filtering or tagging for responsible investment mandates. |
ESG/responsible investing filters are cited among WTW value propositions and client customization tools. | |
|
Max Allocation Options Supported Number of investment options the platform can handle. |
No information available |
Actuarial Integration & Valuation
(8 Yes /8 Known /10 Possible features)
|
Data Export for Actuarial Valuations Standard interface to export required data for actuaries. |
Export of participant data for actuarial valuation is a standard offering; referenced in actuarial consulting materials. | |
|
Mortality Table Libraries Built-in or customizable mortality and demographic tables. |
Mortality/demographic table libraries are built into actuarial engines, part of benefit modeling tools. | |
|
Assumption Management Tools Manage and update economic/demographic assumptions. |
Economic and demographic assumption management is standard for pensions; referenced in WTW’s solution documentation. | |
|
Internal Valuation Engine Calculates liabilities and required contributions internally. |
Liability and funding calculations are performed internally; WTW advertises this as a differentiator. | |
|
Scenario Stress Testing Run ‘what if’ scenarios against actuarial assumptions. |
'What-if' scenario and stress testing for assumptions is cited in analytics and plan management dashboards. | |
|
Funding Ratio Calculation Calculates and displays funded status of the plan. |
Funding ratio calculations are featured in client dashboards and benefit statements. | |
|
Validation vs. Actuarial Reports Analytics to reconcile internal and actuarial outputs. |
No information available | |
|
GASB/IFRS/US GAAP Support Compliant with major pension valuation reporting standards. |
Major international reporting standards (GASB/IFRS/US GAAP) support claimed by WTW for statutory reporting. | |
|
Valuation History Storage Archive of historical valuations and assumptions. |
Historical valuation archiving referenced for auditing and plan review purposes. | |
|
Max Supported Actuarial Scenarios Number of assumption scenarios that can be supported in modeling. |
No information available |
Workflow & Case Management
(9 Yes /9 Known /10 Possible features)
|
Custom Workflow Designer Visual or logic-based workflows for business processes. |
Workflow customization and automation tools featured in WTW solution material as part of client implementation. | |
|
Case Tracking Assign, track, and escalate participant cases or requests. |
Admin case tracking/escalation is a core operational function with client SLAs. | |
|
Alerts & Notifications Sends real-time alerts on workflow events and deadlines. |
Alerts and notifications are provided via admin dashboards and email/portal integrations. | |
|
SLA Monitoring Tracks and enforces service level agreements for request fulfillment. |
SLA monitoring for cases/requests is integral to WTW’s outsourcing offering. | |
|
Document Workflow Integrates document approval, review, and archival. |
Document workflow (approval/review/archival) is referenced in solution literature and admin process designs. | |
|
Task Assignment Rules Route cases or tasks to specific teams or users automatically. |
Automated task assignment rules present in workflow modules for client plans. | |
|
Role-Based Access Control Workflow and tasks access restricted by user roles. |
Role-based access controls for workflows and data are described as a feature for regulatory compliance. | |
|
Process Analytics Metrics and analytics on workflow efficiency and processing times. |
Process analytics are available in client dashboards and admin reports. | |
|
Parallel & Sequential Processes Supports multiple process routing methods. |
Support for parallel and sequential processes referenced in workflow documentation. | |
|
Average Case Resolution Time Mean time to handle a standard participant case. |
No information available |
Security & Access Management
(10 Yes /10 Known /11 Possible features)
|
Multi-factor Authentication Requires an additional verification step for user login. |
Multi-factor authentication included as a requirement for institutional-grade security. | |
|
Single Sign-on (SSO) Support Integrates with corporate SSO solutions (e.g., Okta, Azure AD). |
Single sign-on with SAML/Okta/ADFS supported for large plan sponsors and referenced on solution site. | |
|
Granular Permission Management Highly specific permissions for user roles and groups. |
Granular permission management is standard for regulatory compliance in major pension admin platforms. | |
|
Audit Logs and Monitoring Comprehensive logging of logins, actions, and data changes. |
Audit logs and monitoring referenced as required for WTW’s security and compliance framework. | |
|
Data Encryption in Transit Encrypts all data exchanged with the system. |
Data encryption in transit (TLS/SSL) referenced due to SOC2/ISO 27001 compliance. | |
|
Intrusion Detection Integration Connects to SIEM and intrusion detection/prevention tools. |
Intrusion detection systems and SIEM integrations are referenced for enterprise/regulated clients. | |
|
Field-level Security Can mask or hide sensitive personal information. |
Field-level security is standard in enterprise HR/Pension solutions and referenced indirectly in client data protection materials. | |
|
Automated Session Timeout Sessions end automatically after a period of inactivity. |
Automated session timeouts referenced as a best practice in SOC2/ISO 27001 policies and materials. | |
|
IP Whitelisting/Blacklisting Restricts or blocks access by IP address. |
No information available | |
|
Security Certification Compliance Certified against SOC 2, ISO 27001, etc. |
WTW lists SOC2 and ISO27001/27018 as achieved certifications on the corporate security and solution page. | |
|
Password Policy Enforcement Enforces complexity, rotation, and reuse controls. |
Password policy standards referenced in WTW security documentation. |
Integration & Interoperability
(8 Yes /8 Known /10 Possible features)
|
API Availability Supports REST/SOAP APIs for real-time system interaction. |
API support (REST/SOAP/JSON/XML) for payroll, HR, actuarial, and client integration referenced. | |
|
Standard Data Formats Uses XML, JSON, CSV for data import/export and interoperability. |
Standard industry formats (CSV, XML, JSON) listed as supported in web and integration documentation. | |
|
Payroll System Integration Imports salary/contribution data from payroll systems. |
Payroll integration is cited for both contribution/batch imports and eligibility management. | |
|
Active Directory Integration Synchronizes users and groups with directory services. |
Active Directory integration cited for single sign-on/SSO in enterprise deployments. | |
|
HRIS Integration Interacts with human resources information systems. |
HRIS integration is commonly referenced in solution data sheets. | |
|
Batch File Processing Handles scheduled upload/download of files. |
Batch processing referenced for scheduled imports/exports and vendor integrations. | |
|
Webhooks/Real-time Event Triggering Publishes system events to outside applications. |
No information available | |
|
Bank Integration Direct integration for fund transfer and confirmation. |
Direct bank integration for cash management confirmed in consulting/service offering guides. | |
|
Legacy System Data Migration Assisted migration and validation of historical records. |
Data migration/validation from legacy systems is described in transition project materials. | |
|
Number of Supported Integrations Total unique, supported integration endpoints. |
No information available |
Analytics & Business Intelligence
(8 Yes /8 Known /9 Possible features)
|
Custom Report Builder Users can build custom reports from system data. |
Custom report builders are featured as value adds for pension clients/plan sponsors. | |
|
Interactive Dashboards Visual, interactive dashboards with drilldowns. |
Interactive dashboards referenced in solution and demonstration videos. | |
|
Trend Analysis Identifies patterns and trends in plan participation, funding, etc. |
Trend analysis mentioned for monitoring plan experience and risk analytics. | |
|
Scheduled Report Distribution Automatic report distribution to stakeholders. |
Scheduled report distribution (for statements, compliance, etc.) referenced in solution collateral. | |
|
KPI Tracking Automated calculation and monitoring of key performance indicators. |
KPI tracking/monitoring on plan health and operational performance shown in solution dashboards. | |
|
Predictive Analytics Forecasts cash flows, demographics, or risk factors. |
Predictive analytics for liability modeling, demographics and risk forecasting referenced. | |
|
Data Visualization Tools Charts, graphs, and other visualization formats. |
Data visualization tools available in admin and sponsor portal dashboards. | |
|
Export to BI Platforms Compatibility with Power BI, Tableau, etc. |
Export to Power BI/Tableau is referenced in data/interoperability documents. | |
|
Time to Generate Dashboard Average time to build and load a dashboard. |
No information available |
User Experience & Support
(8 Yes /8 Known /10 Possible features)
|
Responsive Web Design Accessible and usable on desktop, tablet, and mobile devices. |
Responsive web design referenced in public and client solution documentation. | |
|
Contextual Help Help or tooltips provided throughout the UI. |
In-app help and contextual guidance mentioned in user support materials. | |
|
Multi-language Support System can operate in multiple user-selectable languages. |
Multi-language support featured for international/multinational plans on the WTW website. | |
|
Accessibility Compliance Compliant with WCAG/ADA accessibility standards. |
ADA/WCAG accessibility referenced in web product brochures. | |
|
User Training Resources Access to guides, videos, and documentation. |
User documentation and training materials described in implementation guides and support services. | |
|
Service Desk Integration Integrated or linked to IT support ticketing systems. |
Integration with service desk/ITSM referenced for client support (internal and external). | |
|
Knowledge Base Online, searchable repository of FAQs and solutions. |
Searchable online knowledge base referenced for self-service client support. | |
|
In-app Guidance Step-by-step walk-throughs for processes. |
In-app guidance/walkthroughs referenced in new user onboarding and help content. | |
|
System Uptime SLA Guaranteed system availability. |
No information available | |
|
Average Response Time for Support Time to first response from support for user queries. |
No information available |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.