How we performed against key metrics to measure performance
Increasing Customer
Satisfaction
Increase customer satisfaction
Weighting
Reason for decline in
tonality score
| Objectives | Key Measures | Target | 2019 | 2020 | 2021 | Outlook for the year ahead 2021/2022 Target |
|---|---|---|---|---|---|---|
| Improve customer satisfaction | Customer satisfaction index score | 85% | 84% | 88% | 86% | 85% |
| Improve brand image | Tonality score | 85% | 91% | 88% | 83% | 85% |
| Brand Health Survey Rating | 70% | 71% | 80% | 71% | 70% |
Increase
profitability
Increase profitability
Weighting
Reason for decline in
1 month employer compliance rate
| Objectives | Key Measures | Target | 2019 | 2020 | 2021 | Outlook for the year ahead 2021/2022 Target |
|---|---|---|---|---|---|---|
| Increase contributions | Average Monthly Contribution Collections | 113 Bn | 102 Bn | 106Bn | 114 Bn | 125 Bn |
| 1 Month Employer Compliance rate | 40% | 62% | 56% | 51% | 52% | |
| Increase income earned | Gross Target return on investment | 13.09% | 13.1% | 13.82% | 15.91% | 12.98% |
| Improve cost efficiency | Expense ratio | 1.23% | 1.28% | 1.19% | 1.06% | 1.15% |
Increase productivity
Increase Productivity
Weighting
Reason for decline in
new products and delay in the PAS
| Objectives | Key Measures | Target | 2019 | 2020 | 2021 | Outlook for the year ahead 2021/2022 Target |
|---|---|---|---|---|---|---|
| Improve data quality | Data Quality Index | 100% | 88% | 124% | 98% | 100% |
| Improve service delivery | Benefits processing Turn Around Time, days | 7 days | 8 days | 7 days | 8 days | 7 days |
| Improve governance, compliance & risk mgt | Governance and Compliance Index | 100% | 100% | 104% | 100% | 100% |
| Enhance strategic partnering | % completion of Target Partnerships & Stakeholder milestones (NSSF Act Amendments) | Internal milestones for the NSSF Act were all achieved. The bill is awaiting parliament decision | 100% | 100% | Parliament passed the NSSF Amendment Bill which was sent to the President for assent | Awaiting amendment of the NSSF Law |
| Increase value added products and services | Number of new products and services | 1 | 4 | 1 | 0 | 2 |
| % uptake of new product/ service | 33% | 134% | 33% | 10.5% | 33% (i.e. uptake of newly introduced products and services) | |
| Enhance technology impact | % completion of milestones for the deployment of the new Pensions Administration System | 90% | 92% | 83% | 92% | 100% |
Increase Staff
Satisfaction
Increase Staff Satisfaction
Weighting
Reason for decline in talent development
and management index score
| Objectives | Key Measures | Target | 2019 | 2020 | 2021 | Outlook for the year ahead 2021/2022 Target |
|---|---|---|---|---|---|---|
| Enhance performance culture | Staff satisfaction & engagement index | 85% | 88% | 93% | 94% | 90% |
| Enhance talent management | Talent Development and Management Index Score | 100% | 100% | 85% | 92% | 85% |