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.

wireframe 1.png

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

wireframe2.png

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"

wireframe 3.png

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״

wireframe 4.png

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

שליחת מייל.jpg
פרטי הפקדה (1).jpg
הפקדות (1).jpg
דף הבית.jpg

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

הפקדות התלוש.jpg
דף הבית 2.jpg
דף הבית אחרי שליחת מייל.jpg
הפקדות אחרי שליחת מייל.jpg

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

בועת ידעת.jpg
1הפרופיל הפיננסי.jpg
איזור אישי.jpg
הפקדות התלוש 1.jpg

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

הפרופיל הפיננסי-תשואות.jpg
הפרופיל הפיננסי-דמי ניהול.jpg
1הפרופיל הפיננסי.jpg
הפרופיל הפיננסי -חישוב קצבה מחדש.jpg

״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

הפרופיל הפיננסי- סליידרים.jpg
הפרופיל הפיננסי -קצבה חודשית משוערת.jpg

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.

pasted%252520image%2525200_edited_edited

Examples of how a lot of people see the pension information today

pasted%20image%200%20(2)_edited.jpg
pasted%2520image%25200%2520(3)_edited_ed
pasted%2520image%25200%2520(1)_edited_ed
פרסונה 1.png

1

Ayelet Levi, 31

"I don't want to ignore this whole issue of pensions anymore. I've wasted years where I could save a lot of money. I want to know exactly how much money I have in each fund and what it means for my future allowance."

פרסונה 2.png

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.