With the intensification of population aging, the importance of the pension industry has gradually been reflected. The purpose of this study is to find mainly challenges in the pension industry by analyzing the Australian Aged Care Quality Reports. In recent years, Aged Care Quality reports have played a positive role in improving the service quality of aged care institutions and strengthening risk management. This study found that the risk factors in the aged care quality report are the key factors for the upgrading of the pension industry. With the help of traditional text data analysis and mining methods, we can effectively provide new growth points and breakthrough links for the upgrading of the pension industry. This research found the upgrading of the pension industry in the construction of basic hardware and software facilities, the level of informatization and intelligence, the improvement of the quality of aged care services, the improvement of medical problems, and the training of professionals. The research methods proposed in this study are significant to the upgrading of the current pension industry.