NSSF partners with DFCU to ease social security fund transactions

By Deo Wasswa

The National Social Security Fund (NSSF) has unveiled the agency service that will enable its members to make their social security transactions at the nearest agent in their neighborhood without visiting the Fund offices.

While unveiling the innovation at Workers House, Richard Byarugaba, and NSSF Managing Director said it is part of the Fund’s channels that will further ease access to their services for its members. Byaruhanga said, “We have a branch network of 19 branches serving over 2 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 nearest bank agent at flexible working hours.”

In addition, the service is expected to reduce the Fund’s operation and administrative costs especially in establishment of temporary service centers where it doesn’t have a footprint.

The service will be executed 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 the Agent Banking Company provides the technology that links all bank agents countrywide.

Matthias Katamba, DFCU Bank Managing Director 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, more conveniently, to our customers, the under banked or unbanked population. Partnerships such as this one with NSSF are testament to our commitment to delivering on DFCU’s brand promise of making more possible.”

For now, members can only be able to submit their NSSF contributions at the 300 dfcu agent locations. In the near future, the agents will provide other NSSF services like employer and individual or employee registrations.