Measuring 'Value-For-Money' In Pension Organizations: A New Look
“What gets measured gets managed.”
Measuring ‘Success’ in Pension Organizations
We addressed the topic “Measuring Success: The New Performance Indicators” at the Australian Superannuation Funds Association (ASFA)’s annual conference in Melbourne a few weeks back. It offered an opportunity to ask the fundamental question ‘what is new...or should be new in the measurement and reporting of ‘success’ in pension organizations?’ Three ideas came to mind:
- Pension organizations should measure and report actual member financial outcomes vs. targets.
- Pension organizations should measure and report ‘value for money’ outcomes in the delivery of member services such as investing and benefit administration.
- Pension organizations should identify and report on the drivers of their value-creation processes in investing and benefit administration.