OUR STRATEGY:

Stakeholder engagement and value creation

Stakeholder engagement and value creation

OUR STRATEGY:

Stakeholder engagement and value creation

Quality of stakeholder relationships

We measure the quality of stakeholder relationships through defined metrics to monitor satisfaction levels on an ongoing basis. Overall, for the period under review, we believe that through focused engagement with our stakeholders, the Fund has maintained healthy and mutually rewarding relationships.

Below, we demonstrate our commitment, engagement, and quality of our relationships with key stakeholders through the value we have delivered.

Meeting Expectations
Falling Short of Expectations
Meeting Expectations
Falling Short of Expectations

Customers (our members and potential members)

We serve a diverse range of customers, from individuals to employers, each with unique needs. Engaging with them is essential to understand their current and future requirements.

Needs and expectations

  • Our customers expect excellent service, timely payouts, competitive returns, post-retirement support, efficient engagement, and products for both long-term and short-term savings.

Strategic response to deliver value

  • To deliver value, we conduct customer surveys, refine systems for better turnaround times, build strong relationships through engagement channels, support members with financial literacy and entrepreneurial guidance, and run awareness campaigns to boost compliance and saving.

How we engage

  • Our walk-in service centres, contact centre, online channels, relationship managers, and employees engage directly with customers to understand and address their needs
  • The Service Quality and Business Performance teams utilise research and data to gain insights into customer needs
  • Customers provide feedback on our products and services, helping us improve
  • The Executive Committee and Board monitor customer experiences by regularly reviewing metrics such as Net Promoter Score (NPS) and Customer Satisfaction Index (CSI)
  • Our Chief Executive, Executive Committee, senior leaders, and frontline employees regularly review and discuss customer complaints to ensure continuous improvement

Performance measures/value delivered

  • Customer satisfaction index 87% (2023: 87.5%)
  • Mystery shopper score 90% (2023: 88%)
  • Turnaround time for payment of benefits 10.1 days (2023:11.9 days)
  • Increased awareness on online channels (E-channels to walk-in ratio 91 to 9)
  • 199,980 new customers and 8,374 companies registered
  • Designed and tested solutions to support voluntary savings products roll out

Opportunities and outlook

  • Develop and deepen the concept for KYC and 360-degree view of our members
  • Build partnerships and mobilise formal and informal sectors to save
  • Implement Voice of the Customer Led Designs and continuously improve our processes, systems, and channels to improve turnaround times
  • Rollout convenient products and services to increase coverage

Risks

  • Inability to engage and educate members and the public on opportunities to save as per the NSSF Act Cap 230
  • Inability to meet short-term and long-term savings needs

Contributing to SDGs

Quality of relationship

Employees (our staff)

To create a culture where our employees can excel and contribute to our purpose, strategy, and accomplishments, employee engagement is essential. We must provide work environments that foster growth, offer flexible and agile work options, deliver outstanding training, development, and career opportunities, and reward performance with fair and competitive pay and benefits.

Needs and expectations

  • Employees seek recognition, rewards, and benefits, along with diversity and inclusion, job security, safety, and well-being. They also desire growth, learning, and development opportunities, enabling tools, and better communication and engagement.

Strategic response to deliver value

  • Aligning employees with the 2025-2035 strategy, ongoing employee surveys to measure engagement and identify areas for improvement. We strive to create a thriving work environment, implement training and development opportunities like the Pathfinder Catalyst Academy, and continue adopting reward and recognition best practices.

How we engage

  • Our Board receives regular updates from the Managing Director (MD) and Chief People and Culture Officer. Topics range from people strategy initiatives to culture and overall sentiment in the Fund
  • Board, management and MD quarterly and annual engagements with employees
  • Our Managing Director regional employee workshops on 2025-2035 strategy awareness
  • Broadcast HR (Human Resources) policy, Legal Inquiries and Risk nuggets to staff
  • Conduct monthly online Pathfinder engagements
  • Employee surveys

Performance measures/value delivered

  • Employee engagement score 89% (2023: 86%)
  • Graduated over 30 female employees (2023: 30) from Pathfinder Academy
  • Holistic health and wellness programme for employees and their families
  • Implemented policies on human rights, equal opportunities, labour conditions, ethical conduct, and environmental protection in the workplace to include work and safety training
  • Launched and started the Ignite project to redefine our Fund culture
  • Engaged employees, especially men on mental health best practices
  • Engaged more than 370 employees via the Pathfinder monthly talk shows
  • Continued involvement in innovation initiatives, including the internal Hi-Innovator programme and the deployment of AI tools

Opportunities and outlook

  • Promote and grow the Pathfinder Catalyst Academy
  • Increase employee satisfaction
  • Improve our talent development and management practices
  • Commitment to equal opportunities

Risks

  • Inability to attract, retain and motivate staff could impact negatively on service delivery, thereby leading to negative reputation

Contributing to SDGs

Quality of relationship

Regulators and Government

Our relationship with the government supports our strategic pillars and enables us to contribute to policies and initiatives that yield the best results for stakeholders. Regulation helps protect our customers and promotes healthy competition.

Needs and expectations

  • The Fund prioritises superior performance against strategy, ensuring robust management, profitability, growth potential, and competitive annual interest rates. We uphold ethical standards, regulatory compliance, and ESG considerations, while actively contributing to policy, offering technical input, and sharing information.

Strategic response to deliver value

  • The Fund proactively engages with regulators on compliance with legislative frameworks like the NSSF Act (CAP) 230, PPDA, and URBRA. We enforce strong corporate governance for transparency and accountability. Our dedication to sustainable business practices and stakeholder management aims to create lasting organisational value.

How we engage

  • We keep an open dialogue with government especially MoGLSD and MoFPED through our Chairman, Managing Director and, Executive Committee members and senior leaders – as well as through consultation responses and cross-industry initiatives
  • At a working level we regularly engage with other regulators through industry consultations and information requests

Performance measures/value delivered

  • Liaised openly and constructively with various regulators, including conducting ongoing discussions in support of our corporate governance and operations strategy
  • Continued to design solutions and regulations contributing to expanding social security coverage and enriching the range of benefits available to savers
  • Continued to realign the Fund’s organisational structure to take advantage of the opportunities presented by NSSF Act Cap 230
  • Support realisation of ESG good practice and prioritised SDGs
  • Continued discussions and engagements with PPDA, URA, URBRA, NEMA and Attorney General on issues of investment, procurement, taxes, and policy
  • Trained District Labour officers on compliance enforcement of NSSF mandate

Opportunities and outlook

  • Work with various ministries to include Ministry of Gender and Labour to expand awareness and coverage of social security as per NSSF Act Cap 230
  • Constantly monitor, evaluate, and audit our corporate governance practices, legal and regulatory requirements
  • Work with Ministry of Finance to promote investments and innovation
  • Mobilise partners to support social security coverage

Risks

  • Lack of awareness of the legal and regulatory changes leading to an inability to meet regulatory requirements, compliance, and potential damage to reputation

Contributing to SDGs

Quality of relationship

A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH

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