The newly introduced agency system is meant to more workers, especially in the informal sector join the fund and also encourage voluntary contributors by taking services closer to them.
The second phase later in the year will see NSSF services offered through the banks agencies which number more than 10,000 countrywide.
Contributors to the National Social Security Fund now have
more channels through, which to access its services following the launch of the
agency system. NSSF, which has 17 branches across the country has set up temporary
outreach centers in an attempt to attract more contributors.
There are currently about 2.5 million registered
contributors to the Fund out of an estimated 16 million workers in the
country that are eligible to save with it. Of the 2.5 million registered
contributors, only 800,000 have active accounts.
The newly introduced agency system is meant to more workers,
especially in the informal sector join the fund and also encourage voluntary
contributors by taking services closer to them. The Fund also recently
introduced mobile-based channels, where both users of basic or smartphones are
able to access services like remitting savings and updated account statements.
With the coming of agency services, NSSF says that the phase
one partnership between DFCU Bank and the ABC bank will see them increase
outlets to about 300 through the bank branches. The second phase later in
the year will see NSSF services offered through the more than 10,000 banks agents
spread across the country.
The NSSF Managing Director, Richard Byarugaba says this will
also cut on the cost of doing business and increase the value of the savings of
// “Cue in: Previously we had…..
Cue out: …. Sixteen million working individuals.”//
DFCU Managing Director, Mathias Katamba, says it is no longer possible to stop
the growth of digital or information technology, which is now seeing the convergence
of many sectors.
He says the move even helps mitigate the effects caused by the
COVID19 pandemic, which led to movement restrictions.