plans?
What is
pension plans?
Research
User
First i tried to understand what do we know about pension plans and why don't a great deal of us even bother to check?
I conduct an online survey to try to answer this question.
These are some of the findings:
50%think that the information available on pensions today is unaccessible and about 29.3%indicated a medium level of accessibility.
Accessible
information
75.5%did not know the annual return of their pension plan.
Returnes
48.7%do not know how much management fees they are paying and another, 38.5%know approximately how much they pay.
Management
fees
48.8% do not know how much their monthly pension will be in retirement, 43.9% know approximately how much it will be.
Monthly pension
on retirement
75.5%did not know the annual return of their pension plan.
Interested to
learn more
50% of the respondents experienced or have relatives who experienced employers who did not deposit money into their pension plans as required.
The employer do
not deposit money
problems
The problems
Based on the information I received from the surveys, I could point on two main problems:
1
There is a phenomenon of employers who do not deposit money in pension funds.
2
The information available today in the pension field is not accessible to everyone.
One of the interesting findings that I discovered in the research was that pay slips are the only source where you can see the amount, from which the employer is setting aside, or is supposed to set aside money for the pension funds.
Given this important finding and the major problems I've defined, I set the main goals of the app:
Goals
1
Creating a very simple accessibility and easily understandable by anyone.
2
Uploading salary slips and view the unique details of each deposit and the salary amount it is based on.
3
Solving the phenomenon of employers who do not deposit money in pension funds, with a deposit/non-deposit notification system.
4
Consolidating pension plans information into one place and translating it into what the users really need to know.
Personas
Next, I defined the personas of the app
Wireframes
User scenario
&
I built wireframes that describe persona No. 1 (Ayelet Levi) scenario.
5
4
3
2
1
Scans salary slip
סורקת תלוש משכורת
בודקת מה ההפקדות שצפויות החודש לפי התלוש - לוחצת על (+) לפרטים נוספים.
Checks expected deposits. Clicks (+) for more details.
נכנסת לאיזור האישי בחברת הביטוח
Enters personal area on insurance company site
האיזור האישי בחברת הביטוח
Personal area on insurance company
9
8
7
6
Recalculates annuity
מחשבת קצבה מחדש
לוחצת על חישוב קצבה מחדש
Clicks on recalculate annuity
לוחצת על מנורת ״ידעת?״
Clicks on "Did you know?"
נכנסת לתפריט - ״הפרופיל הפיננסי״
Enters to menu - "Financial profile"
10
11
12
13
14
"Returns"
״תשואות״
בודקת את הנתונים הפיננסיים - ״חסכת עד היום״
Checks financial data - "You've saved up to this day"
"Management fee"
״דמי ניהול״
״קצבה חודשית משוערת״,
לוחצת על התראה - הפקדה שלא בוצעה בזמן
"Estimated monthly allowance",
clicks on notification - "Deposit not made on time"
"Deposits"
״הפקדות״
15
16
17
לוחצת על התראה - ״ביטוח מנהלים״
Clicks on notification - "Manager insurance"
שולחת דוא״ל להנהלת חשבונות
Sends an email to bookkeeping
דוא״ל מנוסח מהמערכת
Drafted email from the system
Prototype
Prototype
Information architecture
Main
Register/Sign in
"Mislaka pensionit"
Personal area
Pension plans
Active
Inactive
Plan
Deposits
Expected deposits
Recent deposits
Plan
Financial data
Permanent data
Variable data
Personal data
Personal details
Settings
YaData app
An application for tracking pension plans for salaried employees
The application was made as part of a final project for the UX Course at Netcraft Academy, July 2019.
plans?
What is
pension plans?
First, I tried to understand what we know about pension plans and why don't a great deal of us even bother to check?
I conduct an online survey to try to answer this question.
These are some of the findings:
Research
User
48.8% do not know how much their monthly pension will be in retirement, 43.9% know approximately how much it will be.
Monthly pension
on retirement
48.7%do not know how much management fees they are paying and another 38.5%know approximately how much they pay.
Management
fees
50% of the respondents experienced or have relatives who experienced employers who did not deposit money into their pension plans as required.
75.5%do not know the annual return of their pension plan.
Returns
50%think that the information available on pensions today is inaccessible, and about 29.3%indicated a medium level of accessibility.
Inaccessible
information
68.3% reported that pensions are an area of interest to them.
Pension is
interesting
A phenomenon of lack of deposits
problems
The problems
Based on the information I received from the surveys, I could point on two main problems:
1
The information available today in the pension field is not accessible to everyone.
2
There is a phenomenon of employers who do not deposit money in pension funds.
One of the interesting findings that I discovered in the research was that payslips are the only source where you can see the amount, which the employer is setting aside or supposed to set aside for the pension funds.
Given this important finding and the major problems I've defined, I set the main goals of the app:
Goals
1
Creating straightforward accessibility and easily understandable by anyone.
2
Uploading salary slips to see how much money is supposed to get into the funds and the amount it is based on.
3
Solving the phenomenon of employers who do not deposit money in pension funds with a deposit/non-deposit notification system.
4
Consolidating pension plan information into one place and translating it into what the users really need to know.
Personas
Next, I defined the personas of the app
&
Wireframes
User scenario
I built wireframes that describe persona No. 1 (Ayelet Levi) scenario.
4
3
2
1
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דוא״ל מנוסח מהמערכת
Drafted email from the system
שולחת דוא״ל להנהלת חשבונות
Sends an email to bookkeeping
לוחצת על התראה ״כדאי לבדוק...״
Clicks on the "It's worth checking out..." notification
לוחצת על כפתור ״להפקדות״
Clicks on the "Deposits" button
8
7
6
5
חוזרת ל״הפקדות״ ולוחצת
על ״דף הבית״
Goes back to "Deposits" and clicks on "Home"
סורקת תלוש משכורת
Scans salary slip
בודקת מה ההפקדות שצפויות החודש לפי התלוש
Checks expected deposits
12
11
10
9
לוחצת על ״חישוב קצבה מחדש״
Clicks on "Recalculate annuity."
לוחצת על מנורת ״ידעת?״
Clicks on "Did you know?"
חוזרת ל״הפקדות התלוש״ ולוחצת על ״הפרופיל הפיננסי״
Goes back to "Slip deposits" and clicks on "Financial profile"
נכנסת לאיזור האישי בחברת הביטוח
Enters personal area on insurance company site
16
15
14
13
״תשואות״
"Returns"
״דמי ניהול״
"Management fee"
בודקת את הנתונים הפיננסיים - ״חסכת עד היום״
Checks financial data - "You've saved up to this day"
לוחצת על חץ ״חזרה למעלה״
Clicks on "Back to top"
18
17
מחשבת מחדש ״קצבה חודשית משוערת בגיל פרישה״
Recalculates "Estimated monthly allowance on retirement"
Prototype
Prototype
The
Market
I continued my research clearly on which pension applications and websites exist in the Israeli market, allowing the users to follow all their pension plans.
I found that the "Wobi" website and "Robin" app are the main competitors in the market. In both, as in "YaData," the information obtained is from the "Mislaka pensionit."
"Wobi" compares existing pension plans to others in the market, offering "better" alternative plans. "Wobi" conveys leads to insurance companies.
"Robin" is actually an insurance agent disguised as a robot and he has an economic interest.
In "YaData," the advantage is in the ongoing monitoring of the user's pension plans instead of a one-time report. The emphasis in "YaData" is on monthly deposits, employer changes, and objective comparison of management fees and returns between the various insurance companies.
Examples of how a lot of people see the pension information today
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_edited_ed.jpg)
_edited_ed.jpg)
2
Amir Halfon, 36
"Two months ago, my employer did not deposit money into my pension fund as expected, and unfortunately, looking back on my fund, it seems that it wasn׳t the first time. It is extremely frustrating to work for a careless employer. All I am asking is for full transparency with everything that has to do with my pension fund. It's elementary and so important for my peace of mind."
Main
Register/Sign in
"Mislaka pensionit"
Personal area
Pension plans
Active
Inactive
Plan
Deposits
Expected deposits
Recent deposits
Plan
Financial data
Permanent data
Variable data
Personal data
Personal details
Settings
Pension plans are our "savings" and will determine the size of our monthly annuity when we retire! For most of us, this money will serve as the main source of income for a period of 20 years or more.
YaData app is based on the data obtained from the "Mislaka pensionit" of the Ministry of Finance, where all the personal information about pension savings is located.
Information architecture
Main
Register/Sign in
"Mislaka pensionit"
Personal area
Pension plans
Active
Inactive
Plan
Deposits
Expected deposits
Recent deposits
Plan
Financial data
Permanent data
Variable data
Personal data
Personal details
Settings
Conclusions
Through the "YaData" project, I've learned how to gather data and display it on the interface. I'm glad I had the chance to deal with that.
Following the study, I thought that the information should be presented so that a new user, who has just started to show interest in the pension field, could understand. One goal is to give him an initial sense of control over the information and monitor his monthly deposits.
In building the wireframes, I emphasized the visibility of the contents at the UX level. I used rounded shapes and aimed to present the information simply, to create relaxation for the users.
I consider this project as the first stage of this app. In future developments, there will be the option to consult with experts and purchase pension plans online. However, the aim is to maintain objectivity to create a sense of confidence in the users.