The German savings and investment marketplace’s “retirement cockpit” has integrated with Siemens Fonds Invest, the company’s asset management branch, per Finextra. The digital platform will help Siemens’ German employees better plan for their futures by aggregating all their pension accounts in one location and calculating how much they’ll be worth at retirement.
In addition to state and employer pensions, within the retirement cockpit employees will have access to Raisin’s own private pension products. Raisin first started offering specialized pension products to both employers and individuals directly last year after acquiring retirement specialist fintech Fairr.
The retirement cockpit will likely be popular among Siemens employees due to the existing German pension gap. Poverty among German pensioners is on the rise due to an aging population and stagnant wages. The trend underlines the importance for working individuals to appropriately plan and save for their retirement. Raisin’s private pension offering can supplement state and company pension schemes, providing a stronger safety net for workers. It will thus likely meet strong demand from Siemens’ employees, while giving Raisin a new distribution channel for its pension products.