Uganda Social Security Fund to save sh50m annually as it unveils SMS platform

Friday July 8, 2011

THE National Social Security Fund (NSSF) has launched an SMS service dubbed “NSSF GO” to allow members access their savings through a short message service.

The initiative is one of the several that the Fund is using to address customer concerns.

To access balances through the short message platform, customers are required to type NSSF and send to 6773. Each SMS will cost sh220.

NSSF chief, Richard Byarugaba, said at the launch on Wednesday that the Fund was spending sh50m annually to print out statements for the over 500,000 members.

Byarugaba said inflation that slowed to 15.8%, from 16% in June, had affected their cost of doing business and the rate of return on fixed income.

“The good news is that the interest rates have risen and, thus, there is more gain in treasury bills,” said Byarugaba.

“We instigated the SMS service and toll free lines as part of our customer self-service initiative. Now customers no longer need to come to our various offices to check their statements,” said Byarugaba.

He added that customers now have the opportunity to completely monitor their balances and access full statements on their mobile phones, online and toll free lines.

Byarugaba said the Fund will also operate a Facebook page.

“We will be able to interact with our members in a much more intimate manner,” said Byarugaba.

He said the SMS platform was secure, and that the worst that can happen to a member is somebody checking their balance.

“But they will not be able to get your money. The service will save our customers’ time and the money,”said Byarugaba.

By David Mugabe and Gerald Kawemba: The New Vision Newspaper