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OUR STRATEGY

STAKEHOLDER ENGAGEMENT AND APPROACH

Building and maintaining mutually rewarding relationships with our stakeholders is integral to our success and commitment to deliver value now and for making lives better for all in the future. We believe that the best results are achieved when we foster two-way partnerships with our stakeholders, based on openness, transparency, trust, and good understanding of expectations. We have a programme of regular proactive engagement with our key stakeholders to make sure we listen to and understand their views. Ongoing engagement and evaluation of the quality and value we deliver to our stakeholders is vital to address sustainability concerns and interests and inform our strategic priorities. The NSSF has multiple stakeholders with varying interests and influence. The Fund’s risk appetite is dictated by stakeholders with the highest interest and influence over its operations and strategic direction.

Stakeholder Interest and Influence matrix

Our Stakeholder Why we engage Our commitment to make lives better for our members Engagements 2020/2021 Value delivered
MEMBERS

Strategic Goal

Empowering our members to build secure social security nets
  • Our members are the principal owners of the Fund and direct beneficiaries of Fund services
  • We engage to build a greater understanding of their changing needs to be able to provide relevant and high levels of service. This helps us to sustainably retain customers and attract new ones
  • Excellent customer experience
  • Convenience
  • Trust and responsibility
  • Response to feedback
  • Complaints resolution
  • Efficiency through digital innovation
  • Surveys across all touch points and services
  • Virtual engagements:
    • Annual Members Meeting
    • Customer Connect Week
    • Financial Literacy programme
  • Profitability and competitive returns
  • Financial skills and knowledge through the Financial Literacy programme
  • Efficient service through digital enablement
  • Customer communication through virtual engagements

RISKS
  • Poor service delivery due to unskilled staff resulting in customer dissatisfaction and negative impact on reputation

Mitigating response and opportunities
  • We are open to feedback and acknowledge when things go wrong to improve our services
  • Identifying staff training needs and understanding their pain points to improve business processes and automation

DID WE DELIVER?
  • Achieved overall customer satisfaction of 86%
  • Registered 85% satisfaction rate during Customer Connect Week
    • Meeting Expectations
Our Stakeholder Why we engage Our commitment to make lives better for our members Engagements 2020/2021 Value delivered
EMPLOYEES

Strategic Goal

Creating purposeful work and providing fulfilment to our employees
  • We engage with our people in order to drive commitment to provide our customers with excellent service and deliver on our strategy
  • Employee engagement
  • Development opportunities
  • Learning organisation
  • Recognition, fair reward and benefits
  • Open and straight forward communication
  • Ethical, customer -focused culture
  • Safety and wellbeing
  • Productive environment
  • Enabling tools
  • Annual employee engagement survey
  • Financial wellness programme
  • Launch of holistic employee health and wellness programme
  • Counselling sessions for staff and their families
  • Empathy drive to reiterate the customer centricity message
  • Quarterly engagements with the MD
  • HR online engagement
  • Training
  • Ongoing support for employees working at home
  • Reward and recognition for exceptional performance
  • Development, coaching and mentoring to grow leadership skills
  • Online learning
  • Staff assistance to pay medical bills as a result of contracting the coronavirus

RISKS
  • Inability to attract and retain the skills required to execute on strategy, impacting negatively on customer service and continuity of operations
  • Unskilled staff could impact on customer service and lead to negative reputation

Mitigating response and opportunities
  • Our Employee Value Proposition is strong, making us a preferred employer brand both in country and across the region. We continue to attract exceptional talent from leading global brands, into the Fund
  • Service standards are continually reviewed to improve customer service and develop staff with the required skills and training

DID WE DELIVER?
  • Achieved an employee engagement score of 94%
  • Positive feedback received from staff with regards to effectively working from home and results of the health and wellness programme
    • Meeting Expectations
Our Stakeholder Why we engage Our commitment to make lives better for our members Engagements 2020/2021 Value delivered
REGULATORS AND LEGISLATORS

Strategic Goal

Build strong relationships with regulators to create mutually beneficial relationships
  • We engage with our regulators and legislators to build an understanding of the important role we play in society by providing social security to those that might not have means of living better after retirement
  • Regulatory compliance
  • Control and Supervision
  • Tax contributions
  • Fair employment contracts
  • Ongoing discussions and engagements with Parliament, Ministry of Labour and Gender, PPDA, URA and URBRA on issues including, the NSSF Act Amendment Bill, investment, procurement and taxes
  • Provided regulators with emergency procedures in response to Covid-19
  • Engagement with legislators on key themes relating to midterm access and allowing members to access up to 20% of their accrued benefits
  • We continued to ensure that all our activities and operations complied with the existing legal and regulatory requirements
  • Constantly monitored, evaluated, timely reported and audited our operations
  • Piloted the e-Government Procurement system with the aim of digitising procurement processes, improving efficiency, transparency, and accountability in government procurement practices
  • Compliance to the provisions of the PPDA amended Act of 2021

RISKS
  • Lack of awareness of the legal and regulatory changes leading to inability to meet regulatory compliance, incur fines and damage reputation

Mitigating response and opportunities
  • A compliance strategy, incorporating the compliance universe, monitoring and reporting mechanisms, as well as a sensitisation programme is in place

DID WE DELIVER?
  • There were no fines or penalties against the Fund from our regulators
  • This further emphasises that the Fund is aware and compliant with the regulatory requirements of the country
  • Registered an Audit rating of 89%
    • Meeting Expectations
Our Stakeholder Why we engage Our commitment to make lives better for our members Engagements 2020/2021 Value delivered
SUPPLIERS

Strategic Goal

Through our purchasing procedures, we aim to treat our suppliers fairly to ensure our activities are unbiased and responsible

  • We engage with our suppliers to ensure that we source responsibly
  • All suppliers are given equal opportunity to compete for contracts to supply goods and services
  • Responsible purchasing
  • Local suppliers support
  • Prompt payment schedules
  • Virtual supplier forum
  • Interacted with 193 suppliers during the procurement processes
  • We continued to support our local suppliers in our quest to encourage domestic growth
  • Our aim is to support the business in the community in which we do business
  • We engaged 2890 suppliers during the Virtual Annual Supplier Forum
  • The procurement committee exercised competitive procurement of goods and services at all times, and fairness is always maintained

RISKS
  • Engaging unscrupulous suppliers could lead to conflicts of interest, bribery and corruption impacting negatively on our reputation

Mitigating response and opportunities
  • The process for supplier selection and authorisation includes checking the ongoing suitability of existing suppliers and we take in account their compliance with statutory regulations, which includes paying Taxes and NSSF for their employees
  • We have a controlled process for managing the proposals received from suppliers to prevent any supplier getting an unfair advantage, including scoring of suppliers’ proposals

DID WE DELIVER?
  • All suppliers were paid on time
  • Procurement efficiency was rated at 94% despite the Covid-19 disruptions
  • Overall supplier satisfaction rate of 97%
    • Meeting Expectations
Our Stakeholder Why we engage Our commitment to make lives better for our members Engagements 2020/2021 Value delivered
COMMUNITIES

Strategic Goal

Commitment to ensure promotion of social and environmental well-being of the communities in which we do business

  • Building better relationships with our communities is important to us to attract members and employees
  • We help members to build their confidence in making financial decisions for saving and investment
  • We also get the key to maintain our social licence to operate
  • Financial literacy
  • Social wellbeing
  • Building trust for our business
  • Community support programmes
  • A good reputation
  • Interaction with communities through planned Corporate Social Responsibility events
  • Virtual engagement programmes
  • Radio and Television reality shows

We continue to support the following community programmes below:

  • Career Expo with an objective of preparing students for the workplace, focusing on Entrepreneurship and Financial Literacy
  • Blood donation camps in partnership with Uganda Blood Transfusion Service to save lives
  • Raise funds to refurbish school infrastructure across the country
  • Support businesses and employers facing economic distress as result of the Covid-19 pandemic
  • Support entrepreneurs and business start-ups through the Hi-Innovator programme supported by Master Card Foundation.

RISKS
  • Inability to create a positive and sustainable impact on the communities, economy and environment within which we operate, negatively impacts the sustainability of the Fund’s operations and the economy as a whole

Mitigating response and opportunities
  • The evolving business landscape and trends have prompted us to review our materiality analysis and reassess our sustainability priorities. We have prioritised stakeholder issues according to their economic, environmental, social and financial impact as guided by the GRI reporting framework and have adopted the Global Reporting Initiatives (GRI) G3/G3.1 for purposes of this report
  • GRI supports the UN 2030 Sustainable Development Goals (SDGs) and our report demonstrates our commitment to these goals for a sustainable future, in the manner in which we have aligned our strategy, CSR initiatives and business activities to have a positive impact on people, the planet, prosperity and peace for all

DID WE DELIVER?
  • Engaged 2,545 students and registered 91% positive feedback from the Career Expo
  • Intervened in the blood shortage crisis during lockdown by collecting 2641 units of blood from the annual blood donation drives
  • Imparting knowledge and skills and changing people’s attitudes towards long term savings and making saving a way of life
  • Launched the Hi-Innovator programme in partnership with Mastercard Foundation with the objective of supporting growth of 50,000 start-up businesses in the next five years
    • Meeting Expectations