PensionLink
PensionLink
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Product Design | App Concept | User research
Product Design | App Concept | User research
Tools: Figma
Problem
Problem
Managing pension plans is tiring, costly and inefficient:
To manage one’s pension, one needs to either remember all pension providers they had plans with throughout their life, or consolidate into one pot, which usually implies a fee
Consolidating all pension plans isn’t always possible (especially the ones with the person’s current employer)
There is a need for a tool that would provide a summary view and a comparison, all in one place (similar to Open Banking)
UK government offers a free tracing service, but only for the purposes of retrieving contact details of providers
Solution
Solution
A tool showing your pension plans in one place
Collects data from various pension plans
Uses Digital Trust for identity verification
No need to log in to various providers
No need to pay fees for consolidating pension plans to better manage your pensions
Real life comparison of your existing savings
£19.5bn of Pension funds unclaimed in the UK
1 in 25 people consider telling their pension provider when they move home
The average person will have 11 jobs in their lifetime
Persona
Persona
30-35 years old
Employed or self employed
More than one pension plans
After graduating from Uni, having a solid career, changing a few employers, Andrea starts thinking of her and her family’s future. She moved to a new house together with her husband and their little daughter.
She is thinking of maximising the value of her savings and pensions. Unfortunately, as she changed jobs a few times, work needs to be done to understand the status of her pension savings.
She did some research online and there’re ways to consolidate some of her pension savings, but not all of them, and she would likely need to pay a fee, which doesn’t make her feel happy (just another service provider to pay!)She is able to view various credit cards and bank accounts in a single app, why can’t the same apply to her pensions?
She is thinking of maximising the value of her savings and pensions. Unfortunately, as she changed jobs a few times, work needs to be done to understand the status of her pension savings.
She did some research online and there’re ways to consolidate some of her pension savings, but not all of them, and she would likely need to pay a fee, which doesn’t make her feel happy (just another service provider to pay!)She is able to view various credit cards and bank accounts in a single app, why can’t the same apply to her pensions?
The product idea is to use the Santander Digital Trust protocol, built on top of OpenID open-source technology. This technology allows to authenticate users safely and securely without compromising privacy.
Finally, a prototype was built using Figma, following a hypothetical scenario of somebody trying to consolidate their pensions.
This resulted in a third place for me and some cool swag I still proudly wear!
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