By Silvia Nyambura
The National Social Security Fund (NSSF) has today adapted a more advanced tech savvy E-Collection portal that will enable employers and banks remit employee savings through the digital platform.
E-Collections is an electronic way of processing employee contributions onto their NSSF accounts with minimal manual interventions. It involves having a straight forward process of remitting members’ contributions from the employer through the Bank to NSSF.
The new system provides easy access to NSSF Contribution payments Systems, enables direct upload of Schedules onto the NSSF Server, eliminates errors in the schedules, reduces the amount of paper work required, gives employers access to payments reports and provides a feedback mechanism for employers.
Addressing stakeholders at the Kampala Serena Hotel this morning, NSSF Managing Director Richard Byarugaba said the platform will enable the Fund improve customer experience.
“This system will enable us to improve our data quality while increasing collections by taking away the data management function from the banks in form of receiving and passing on schedules from employers. The process will also ease the mode of contributions payment, enable real time reconciliation between the Banks and NSSF, improve data quality and faster update of member accounts and consequently leading to a faster processing of member benefits,” he said.
Byarugaba explained that by introducing the new system, the employer and employee data quality will be refined and improved in accuracy and completeness.
Standard Chartered Bank Managing Director Herman Kasekende applauded NSSF for being innovative and encouraged all employers to switch to the new advanced portal.
“This system is more convenient and time saving. At Standard Chartered Bank we have already enrolled to the new portal. It will eliminate a lot of errors while posting employee contributions,” Kasekende said.
The E-Collection platform is web based where clients will choose the option of e-Collections payments from NSSF web site. Each Employer is given login credentials to access the E-collections Portal. At the end of the process a Transaction Reference Number (TRN) is generated for the employer and this is what is taken to the bank for payment purposes together with cash or cheque, depending on the payment mode selected.
NSSF partners with Banks to act as a one-stop center for employers to remit payments and the corresponding schedules. Banks are mandated to receive payments and schedules from employers and pass them on to NSSF within a specified amount of time.
