Kampala, Uganda | THE INDEPENDENT | 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 the members.
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.