Who are these people who deliberately choose to work in the retirement industry? What do they do there all day for your retirement? And what do they like about their work? We take you behind the scenes to take a look.
Stan Russell (30) is senior engagement manager at Geldvinder. Along with his team it is their mission to make everyone in the Netherlands financially fitter. “Personal finance is still a bit of a taboo subject.”
What is Geldvinder?
“An online financial platform within APG, with which employers can help their employees structure and improve their finances in an accessible way. Think of it as an online financial coach. Users start with a fit test to map out their income and expenses, buffer and risks, assets and debt as well as their retirement savings. This results in a certain fit score of between 0 and 100, which provides information about someone’s financial situation. It gives a very accurate picture. You shouldn’t see the score as a conclusion, but rather as a starting point from which you can set your financial goals. Some goals are easier to achieve than others; sometimes you work on several goals at the same time. Because people’s financial situations change quite a bit, Geldvinder aims to guide users in the long run.
What is APG's interest in this?
“APG started this because the retirement saving system is changing. It is no longer one size fits all, people are increasingly gaining more insight into their own retirement savings. On the one hand, it is a good thing but on the other hand, it also comes with more responsibility. APG believes it is important to help their clients with this. Of all four financial domains in Geldvinder, people score the lowest on retirement savings. That is partly because of ignorance. We want to offer clear, reliable information so that participants can make good choices. Because making the wrong decisions about financial matters can have devastating consequences. Geldvinder is a non-profit start-up with no commercial partners, and that is quite unique. The details you fill in are also not shared with third parties. Employers can see what their employees have filled in and where their challenges lie, but they can’t see it at an individual level. So far it has been a tremendous success. In the first year, about 20 percent of employees with which we cooperate were using the platform.”