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Helping Canadians understand their retirement income from government sources

Government Pension Case Study

Overview

There are two main sources of retirement income for all Canadians who live and work in the country during their employment period:

  • OAS/GIS/Allowance: OAS is a government-run system to provide basic income to all seniors after 65. It is based on residency and it is complemented by GIS/Allowance to provide means-tested income for all.
  • Canada Pension Plan (CPP)/ Quebec Pension Plan (QPP): is a mandatory employer-employee pension plan covering all Canadians.

These two sources combined provide basic retirement income for all Canadians excluding additional workforce retirement benefits and personal savings. Despite its ubiquity and importance, many Canadians struggle to grasp its basic rules for benefit amounts or qualifications. The objective of this project is to empower the Canadian public with a user-friendly tool to learn about the basic retirement income they receive.

Approach

We studied the market and realized that we needed to build an interactive and user-friendly tool for the general audience. Such a solution requires a radically different & innovative approach to user experience. Some of the challenges we faced and solved for include:

  • Building the complex set of regulations and interdependencies in the calculation engine without compromising the user experience
  • Finding the right balance between simplicity and accuracy with a minimum number of inputs
  • Multi-layered information flow to enable learning through play for an audience with basic or intermediate knowledge & interest

Solution 

  • Combined CPP/OAS simulator[1]  based on human-centric design delivering unparalleled CX
  • More than 85% of users felt more comfortable with this topic after just a few clicks
Take it for a spin

Interested in transforming the member experience in your organization?

You are intrigued by the potential of an enhanced member engagement strategy, but how do you get your stakeholders on board? We’ve got you covered! Our pitch deck explains the features and benefits of adopting digital solutions highlighting our process of overcoming member communication challenges. Start the conversation in your organization and you have our support every step of the way.
Let us introduce a contemporary take on the pension industry, one that empowers individuals to make informed decisions about their financial well-being in retirement. Pensionbar’s human-centric and holistic approach drives the transfer of passion into technology, generating superior return on your investment in offering retirement benefits.

Get in touch with us!

We are a remote first company headquartered in Toronto, Canada.

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