NSSF’s collection jumps to Sh4.4 trillion after introduction of GePG system

Dar es Salaam. The National Social Security Fund (NSSF) has increased its revenue collection from Sh3.2 trillion to Sh4.4 trillion in two years.
This is after the pensions body adopted the use of the government payment system commonly known as the GePG.
In a statement, the Permanent Secretary Ministry of Finance and Planning, Doto James hailed NSSF for its achievement.
Speaking in Dodoma on Thursday, he said GePG has helped NSSF to increase revenue collection from Sh 694 billion annually to Sh1.1 trillion by June this year.
"This is a true testimony that GePG has turned around the NSSF revenues collections in an impactful way," he said.
According to him, after use of the GePG system, NSSF increased its collections unlike when it was using other accounts that are currently closed
"This should be the system used by all institutions that are yet to adopt the GePG system, he said.
NSSF Director General  William Erio said the Security Fund adopted the system in April last year which is used to collect member contributions from both formal and informal sectors as well as collecting rent from people who are tenants with NSSF.
Explaining,  he said the system has ended challenges like use of forged cheques that madethe collection process to be difficult.
He said before the GePG system was introduced they had at least 78 bank accounts and now they were remaining with only three that has reduced cost of servicing the accounts from Sh9.5 million to Sh4 million per month.