On July 1, 2023, the Future of Pensions Act (Wtp) came into effect. This change means a fundamental shift for pension providers and organizations: collective guarantees disappear and make way for personal pension pots. That sounds straightforward, but in practice it requires major IT transformations, complex data migrations and extensive process adjustments, all under high time pressure. The challenge is enormous: daily operations must continue while simultaneously making the transition to the new system. Capacity and expertise are under great pressure. Circle8, a specialist in hiring (IT) talent, sees opportunities to support pension providers with the right people and capabilities, so that the transition to the new pension system succeeds.
The Wtp leads to peak pressure at pension providers and involved organizations. Daily operations must continue. At the same time, transition projects with tight deadlines and major impact must be executed. Internal capacity falls short and there is a shortage of specialists with knowledge of IT and pensions. The central question for Circle8: how do we translate the capacity needs of pension providers into a concrete proposition that aligns with Circle8's added value?
Together with Business Models Inc., Circle8 developed a new proposition for pension providers through a systematic process in three sprints, with co-creation and validation as the common thread:
Market validation: confirming that the need exists among pension providers.
Feasibility: determining whether Circle8 can deliver added value in terms of capacity.
Business case: proving that the proposition is profitable for all parties.
A new proposition, fully developed, tested and ready for launch.
Strategic market position as first player in a niche with high demand.
A proven framework that allows Circle8 to develop and validate future opportunities faster.
Circle8 is among the largest players in the Netherlands in the field of talent hiring. The company specializes in broker and MSP services, with a strong focus on the IT sector, government and semi-government. What makes Circle8 strong is a large network of (IT) professionals and freelancers, years of experience in matching complex challenges to the right people, and the capacity to scale up quickly and flexibly. With this foundation, Circle8 is strongly positioned to help pension providers during the Wtp transition.
With the introduction of the Future of Pensions Act (Wtp) on July 1, 2023, the pension sector is making a fundamental shift. Where pension funds previously worked with collective guarantees, each participant now gets a personal pension pot.
This transition sounds simple, but the reality is complex:
IT transformations: outdated systems must be renewed or completely replaced.
Data migrations: millions of pension data must be transferred without errors.
Process adjustments: internal workflows, customer communication and reporting change fundamentally.
Timelines: all changes must be implemented within a few years, with little room for errors.
The consequences for pension providers:
Daily operations must continue (paying out, calculating, managing).
At the same time, multiple transition projects run with hard deadlines and major impact.
The demand for specialists with dual expertise - IT and pensions - is greater than ever.
The problem: those specialists are scarce and internal capacity at providers falls short. This creates a risk of delays, errors or even non-compliance.
Circle8 sees that they are uniquely positioned to support pension providers with the challenges that the Wtp brings with the right people.
As Business Models Inc., we guided Circle8 in developing a new proposition in the pension sector. We set up a systematic process, based on design thinking and lean startup principles. In three sprints we went through the core questions: is there actually demand in the market, can Circle8 deliver on its promise, and is it viable?
We start with the user. Through conversations with pension funds, providers and sector experts, we investigated their challenges around the Wtp transition. In parallel, we tested these qualitative insights with a broader market study. The outcome was crystal clear: there is an urgent need for hybrid specialists who combine IT and pensions. Moreover, competitive analysis showed that this niche is hardly served. Circle8 thus has a clear first-mover advantage.
Then we looked inward. We mapped Circle8's existing resources and determined which "minimum viable capabilities" were needed to establish a first proposition. The analysis showed that the core is present, but that targeted investments in training and network expansion are necessary. By systematically defining these building blocks, a concrete action plan emerged that allows Circle8 to scale up and sustainably deliver its offering.
Finally, we tested commercial viability. We experimented and validated the willingness of independent IT professionals to specialize in the pension domain. The response was positive: many talents see this as an opportunity to distinguish themselves in a stable and growing market. We then calculated different scenarios, from a cautious pilot to an ambitious growth path. The financial analyses confirm that the proposition is not only feasible but also attractive.
The process delivered a fully developed and validated pension proposition that is ready for launch. Circle8 positions itself as one of the first parties to specifically support pension providers in the Wtp transition. With this sharp focus, Circle8 enters a stable market where demand for hybrid IT-pension specialists is growing rapidly.
The business case proves that the proposition is commercially attractive. Various calculated growth scenarios turn out positive. Surveys and experiments with IT professionals confirm that there is a solid pool of talent available that wants to specialize in this domain.
The process also brings practical improvements. A format for job profiles emerges that pension providers can apply directly, and Circle8 gains clear insight into which capabilities need to be further developed to grow sustainably.
Perhaps the most important result is that Circle8 adopts a new way of working. By applying design thinking and lean startup principles, we showed that a sharply defined market problem leads to a validated proposition in a short time. Circle8 now has not only a new proposition, but also a repeatable framework to exploit future opportunities faster and more effectively.
