National Social Security Fund Joins Suit In Adopting Mobile Money Pension Payments.

In the height of the overly present digital revolution progressively happening throughout the country, and the continent at large, there is now a more efficient and user-friendly way for the ordinary mwananchi to make their periodic social security fund contributions. Our very own telecommunications magnate, Safaricom, has partnered with the National Social Security Fund government agency (NSSF) to develop a conduit through which Kenyans are now at liberty to remit their contributions through the ingenious simplicity of mobile money payments.

This advancement comes with a great deal of convenience to all the three parties involved i.e. Safaricom, National Socal Security Fund and the common citizen. To Safaricom, this would further add to its value chain by increasing its functionality to its vast clientele who already depend on the system for a wide array of functions and services. This would ultimately lead to enhanced brand loyalty against up-and-coming competitors like Airtel. On the NSSF side of the spectrum, this would further enhance service delivery to its users as it would leverage the expansive market reach provided by Safaricom to render efficient and seamless service in an effortless manner. This would also do its bit to ease congestion in their centers as it would greatly reduce the human traffic that often flocks their offices to make their contributions. Lastly, on the common citizen side of things, this new shift would be of great benefit as it would lessen the burden of fund contribution by making the process fairly easy and autonomous consequently increasing customer satisfaction and contentment in the execution of their public service.

The new system is quite easy to use. Members remit their contributions to the organization through the paybill number 333300 in their M-pesa menu. They then proceed to key in their NSSF account number in the next option and they complete the transaction.

In a press statement, the Chairman Board of Trustees, NSSF General (Rtd) Dr. Julius Karangi went out to commend the innovative step to automate pension contributions. He further went on to claim that the major task that lay before them is to maintain the high-quality status of the innovation in order to meet customer expectations amidst the ever-changing digital frontier. He concluded by saying that this would be the first of many new initiatives that they are planning on rolling out in the recent future.

In addition to launching a cashless platform, NSSF has allowed its users to track their contributions through their self-service portal http://www.nssf.or.ke/ of their web application which is available for free download in google play store. They are also working on a way to make the service delivery more efficient by facilitating an online tax return option which would replace the existing one. This advancement also comes with an option in which an employer with less than 20 employees can automatically make his/her staff contributions through Mpesa. The employer is simply required to key in his/her staff’s payroll information in their online portal and this would generate a Unique Payment Number (UPN). The manager then inputs the UPN as the account number in the M-Pesa Menu.

Mobile payments are rapidly gaining traction in the Kenyan market and reports from the central bank claim that 90% of all cashless payments made in 2018 were made through the mobile money options. This is evident as most government agencies and parastatals have already shifted their operations to embrace the inevitable wave of mobile money transactions. Prime examples include but are not limited to the National Hospital Insurance Fund (NHIF), The Commercial Bank of Kenya (CBK) and the entire E-citizen platform. With this growing statistic, it would be fair to conclude that the future of transactions is most likely meant to be mobile payments.

Comments

comments

Be the first to comment on "National Social Security Fund Joins Suit In Adopting Mobile Money Pension Payments."

Leave a comment

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.