OUR STRATEGY

Performance against strategy

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%
Asset 174

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%