To address the retirement savings gap for Hispanic workers, the Principal Financial Group has expanded its suite of solutions by adding a Spanish-language option to its mobile retirement app.
This enhancement is designed to help increase retirement savings and management access to the thousands of Hispanic workers Principal serves, as many face a retirement savings gap made worse by the pandemic, according to the Nov. 1 announcement.
“Cultural and language barriers can often limit the engagement of Hispanic workers and hinder retirement outcomes, particularly during times of economic uncertainty,” says Joleen Workman, Vice President of Customer Care for Retirement and Income Solutions at Principal. “By adding a full-service Spanish-language retirement mobile app to our solutions for Hispanic workers we are focused on helping even more people feel secure and confident in their retirement planning.”
The app provides the appropriate language in Spanish or English based on a user’s phone language setting, allowing Spanish-speaking users to:
- check retirement account balances;
- make contribution decisions;
- monitor their retirement progress; and
- get assistance from bilingual customer support.
The app is available to all Principal customers and adds to the company’s Principal Hola Futuro, a free educational and financial wellness resource for the Hispanic community. It also will be an immediate resource for Spanish-speaking workers who onboard with Principal Español, a bilingual digital enrollment platform.
