Siemens is cooperating with German fintech Raisin on employee pensions. There has long been a political desire in Germany to provide German residents with an accurate overview of their retirement financing, in order to identify the deficiency in people’s pension in a timely fashion.

The pension specialist fairr, part of Berlin-based Raisin, developed a digital “retirement cockpit” along these lines, enabling users to easily track their retirement funds and plan accordingly. Now German manufacturing giant Siemens’ pensions company, Siemens Fonds Invest GmbH, is offering Siemens employees the opportunity to use the fairr cockpit to optimize their retirement planning.

Calculating an individual’s expected retirement funds – and how much more they’ll need to maintain their standard of living With the Raisin fairr “retirement cockpit,” a user can see their private, statutory and, if applicable, company pension benefits clearly laid out and automatically extrapolated through to their retirement age.

The user can then observe at a glance how far their final pension sum deviates from their desired standard of living in retirement – their “pension gap.” This overview is the first step to securing the user’s third phase of life, their retirement. The cockpit’s calculations can then form the basis for an ongoing structuring of the individual’s retirement savings mix.

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