For many pension funds, “invaren” — the transfer of accrued pension entitlements into the new system — feels like the finish line: approval has been granted, pension rights have been converted into individual pension capital accounts, and the new systems are running in production. Formally, the transition has then been completed successfully.
According to Roel Jacobs, however, the real work only begins at that point.
During one pension fund’s transition to the new pension system, this became particularly clear.
“The fund had already decided once to postpone the transition. This time, all the signals were green. So it simply had to happen.”
In just over a year, a completely new pension administration platform was implemented, including redesigned processes, participant portals and integrations with asset management systems. All of this took place within an organisation of fewer than 200 employees, where there was little room for functional silos.
That context requires far more than standard project management.
“You cannot say: ‘there’s a department for that’. If something needs to be done, we tackle it together and make sure it gets delivered.”
In programmes like these, Roel sees that the WTP requires more than tight project governance. It demands an integrated overview, in-depth expertise, and the ability to continuously connect technology, operations and governance. Defining requirements, managing suppliers, overseeing testing processes and supporting the board with substantiated decision-making all had to happen simultaneously. Technology and decision-making needed to move in sync.
As a result, the second half of the programme focused not only on IT, but also on governance and board-level scrutiny. Decisions had to be transparent, explainable and traceable for the regulator.
“Everyone needed to feel confident that we were doing the right things. That involved a great deal of work behind the scenes.”
The transition took place on 1 January 2026. Pension entitlements were converted into pension capital accounts and the systems went live. Technically, the programme was a success.
What followed, according to Roel, is the phase that ultimately determines the long-term success of the new pension system:
What becomes clear here is that the new pension system is not a linear project, but a structural transformation in the way the pension chain operates. The organisation shifts from a temporary project structure to a permanent monthly operating cycle under regulatory supervision, in which administration, asset management and governance are directly interconnected every month.
Errors become visible to participants more quickly, deviations have an immediate impact, and boards ask more critical questions. Supervisors no longer focus on plans, but on execution.
As a result, the central question fundamentally changes:
Not:
“Are we ready for the transition?”
But:
“Are we sustainably in control?”
Based on his experience across multiple pension transformations, Roel sees a recurring pattern: organisations naturally focus their energy on achieving go-live. It is the visible moment, the measurable milestone.
However, true organisational maturity becomes evident in the phase afterwards.
The new pension system forces pension funds and administrators to think and operate in an integrated, chain-oriented manner. In that sense, the WTP is not simply an IT migration, but a redistribution of responsibilities under supervision.
That requires professionals who do not merely implement systems, but who understand how governance, operations and asset management must structurally come together — and where the tensions and risks lie.
Within that reality, Projective Group operates daily at the intersection of content expertise and delivery, between operations and governance, and between implementation and sustainable control. Not only up to go-live, but also during the phase that follows — when organisations must demonstrate that they remain sustainably in control.
WTP is therefore not approached as a project to be completed, but as a chain transformation that must be continuously managed. Month after month, under supervision.
Because in the new pension system, go-live is not the end point.
It is the moment when the real work begins.
