By Mark Kawalya
A partnership between the National Social Security Fund (NSSF), Visa Card and Centenary Bank has led to the introduction of a loyalty program for members using NSSF’s smart card, giving them access to discounts on goods and services from selected suppliers.
The funds smart card has a triplicate use that enables it to embed NSSF’s functionality along with that of the bank.
While speaking at the launch on December 14, 2022, NSSF’s acting Managing Director, Patrick Ayota, said the Loyalty Program will enable beneficiaries to secure assets at rates that are subsidized.
“Today, I am pleased to officially unveil the NSSF Smart Card Loyalty Program, one of the three amazing features of the Smart Card. It is an initiative where NSSF members have access to unlimited discounts on selected goods and services while transacting,” he said.
“We have about 8,000 people who have shown interest in the smart card, with active usage standing at 60.7% to date. The main driver of these enrollments has been the availability of discounted offers on selected products and services,” he added.
According to Mr. Ayota, a post-retirement survey that was carried out by NSSF indicated that 60% of the benefits paid out to members were used for home improvement and construction, along with land purchases.
“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,” he added.
NSSF has partnered with more than eight real estate merchants and players from the construction, technology and hospitality industries to give its members discounts for services and products procured.
Patrick Ayota explained that all an NSSF member has to do is present their smart card to the onboarded merchant at their premises to access the discounted services and products.
NSSF members wishing to sign up for the smart card can follow this link: http://nssfug.org/smartcard or apply at any NSSF branch or Centenary Bank branches.
Merchants wishing to offer discounted services/products under the program are called upon to visit the NSSF’s marketing office, while participating merchants can be previewed on the NSSF website.
