NAIROBI, Kenya, Sep 12 – The National Social Security Fund (NSSF) has embarked on a strategic rebranding exercise in a bid to spur institutional transformation and salvage its public image.
The exercise kicked off early this month with a series of internal communication activities to prep the more than 1,600 NSSF staff to adopt a new customer centred service delivery attitude.
Speaking during the launch of the new NSSF corporate identity system, NSSF Acting Managing Trustee Tom Odongo said the effort to transform the fund is now in high gear.
NSSF is planning to invest heavily in the rollout of the new Corporate Identity System to familiarise its clients and staff.
Among other elements, the new NSSF brand highlights the fund’s commitment to maintain world-class corporate governance standards, adopt cost effective information communication technology solutions and enhance customer service delivery.
With a new corporate identity system, to be anchored on a new logo and slogan “Growing you. For good”, Odongo affirmed that NSSF has moved to shed its old infamous public perception.
“The rebrand of NSSF today, showcases our corporate resolve to transform into one of the world’s best run and managed social security funds focusing on service delivery as our core mandate,” he explained.
The ongoing NSSF rebranding process will be rolled out gradually across NSSF branches countrywide.
In its last financial year statements (2011), NSSF returned a net increase in Scheme Funds of Sh11.6 billion anchored on stable returns from investment incomes and a seven percent growth in contribution revenues.
The fund’s 2011 results reflected a Net Assets growth of 12 percent to stand at Sh110.4 billion, up from Sh98.6 billion posted the previous year.
In recent weeks, NSSF has been engaging various stakeholders to garner support for the proposed NSSF Transformation Bill 2012 set to be tabled in Parliament in coming months.
The draft Bill seeks to expand NSSF’s coverage and enhance the range of benefits within reasonable economic grounds.
If it sails through, the NSSF Transformation Bill will also help mobilise national savings as the rates of contribution to the new Pension Fund will be at 12 percent of pensionable earnings (basic earnings) split, at a 50:50 ratio, between the employee and employer.
Currently, the Transformation Bill outlines a range of provident and pension benefits for its members.
Among others, NSSF members will be entitled to pension benefits payable under the Pension Fund such as a Retirement and Invalidity pension and a range of benefits including survivors benefit, funeral grants and emigration benefits.
Under the provident fund, a member is eligible for the benefit upon retirement or upon attaining the age of 50 years.