NSSF managing director Richard Byarugaba The National Social Security Fund (NSSF) recently unveiled the agency service that will enable its members to make their social security transactions and contributions at the nearest agent without visiting the fund’s offices.
While unveiling the innovation at Workers House, Richard Byarugaba, the managing director of NSSF, said this is part of the fund’s channels that will further ease access to its services.
“We have a branch network of 19, serving over two million customers. With this service, it means that NSSF customers don’t need to travel long distances to access our offices, but can make transactions at the near- est bank agent at flexible working hours,” Byarugaba said.
In addition, the service is expected to reduce the fund’s operation and administrative costs especially in the establishment of temporary service centers where it doesn’t have footprint, and also reduce the cost to NSSF members from Shs 4,170 to Shs 3,100. The service is in partnership with dfcu bank and the Agent Banking Company (ABC) Limited.
Dfcu will provide its bank agents to facilitate the NSSF transactions countrywide while ABC will provide the technology that links all bank agents countrywide. Matthias Katamba, the managing director of dfcu, said the service is in line with their strategy to increase financial inclusion in the country.
“We are proud to be the first bank to partner with NSSF on this front. Adding social security transactions to our list of financial services through the agency banking model gives us an opportunity to further extend more financial services to our customers, the under banked or unbanked population.”
Richard Yego, the ABC Uganda Ltd chief executive officer, said: “We are happy to add another service to the Shared Agent Banking platform and ultimately supporting agents earn more from their businesses. This interoperable technology platform is safe, quick and convenient and we pledge to ensure the selected agents for the service adhere to the confidentiality clauses in this partnership in order to safeguard the NSSF member data.”
For now, members can only be able to submit their NSSF contributions, employer, employee and individual registrations at the 300 dfcu agent locations. In the near future, the agents will also provide other NSSF services like giving out statements.
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