The National Social Security Fund (NSSF), in partnership with various companies, has officially unveiled a loyalty program where its members can access discounts on selected goods and services through the NSSF smart card.
The initiative is one of the major features of the NSSF Smart card, a three-in-one social security card that embeds NSSF functionality and bank functionality in addition to the Loyalty program. This is in partnership with Visa, a global payments technology company, and Centenary Bank.
Speaking at the launch of the program, the NSSF Ag. Managing Director Patrick Ayota said that the initiative was informed by Fund’s desire to be more relevant to the members.
“A 2019 Post-Retirement survey we did showed that 60% of the benefits paid out to members had been allocated to house improvement/ construction and land. We, therefore, wanted to create more value for members by giving them an opportunity to acquire desirable assets at a subsidized rate before they retired so that they can invest their retirement savings in more profitable ventures.,” Ayota said. “It is an opportunity for our members to save money on desired purchases by getting cheaper but quality options from our partners. “He added.
In addition, Ayota said that the Loyalty program was also an opportunity for the Fund to grow its membership. “Since the launch of the smart card six months ago, we have about 10,000 applications for the smart card with active usage standing at 60.7%. In addition, the Loyalty Program has been the major driver of these enrollments which is a clear indication that the program has the potential to attract new members to the Fund through the various discounted offers from our partners,” Ayota said.
