The Value of Digital Access for Public Pension Plan Members
Webinar: How Public Pensions Can Transform Participant Engagement Through Digital Access
NCPERS hosted a webinar—part of NCPERS Center for Online Learning--on September 20, 2022 to explore the importance of digital access for pension plan members.
Panelists included Colorado Public Employees' Retirement Association Executive Director Ron Baker; San Mateo County Employees' Retirement Association CEO Scott Hood; Digital Deployment CTO Sandeep Mehta; and NCPERS Executive Director and Counsel Hank Kim.
Kim began the session by discussing the growing need for public pension systems to offer mobile access. He noted that as of December 2021, 71 percent of public pension systems provided account information to members via a website, but only 7 percent were offering access through a mobile app, according to the 2021 NCPERS Public Retirement Systems Study.
Discussing the decision to develop a mobile app for its members, SamCERA CEO Scott Hood said they wanted to put more tools in their members hands. “We wanted to make the tools available, but wanted to also make them easy to use. So it had to be really intuitive.” He said the most-used feature in their app is the estimator, an intuitive and customizable tool that can help active members plan for retirement.
Member education is of course important for many pension plans, but it can be challenging to provide content in a format that isn't overwhelming and is easy to understand. In providing that education, Baker said that CoPERA is trying to meet members where they are in their journey and tailor information based on their needs.
As CTO of Digital Deployment, Mehta has worked with many different pension plans to enhance digital access for members. He shared slides (PDF) discussing the five opportunities plans have to deliver better member self-service: Guided registration and self-service onboarding; built-in password and login assistance; paperless pension management; active member education and planning tools; and proactive, personalized support tools.
NCPERS has partnered with Digital Deployment to offer its members a 10% discount on the PensionX digital platform. PensionX is the premier digital platform that securely enables pensions to engage with active and retired participants via a mobile self-service app and portal.
To learn more about the platform and find out if it's a good fit for your public pension system, simply fill out this form and mention your NCPERS membership to receive your 10% discount.