Samoa National Provident Fund goes digital
The Samoa National Provident Fund (S.N.P.F.) is introducing online access to all its members' superannuation accounts from next week.
The new online portal for the compulsory retirement savings scheme is the latest instalment of a $2.1 million fund management system upgrade which is now fully operational.
The announcement was made by the Chief Executive Officer, Pauli Prince Suhren, during a press conference on Thursday morning at their main branch in Apia.
“This new system replaces various old and ageing systems that N.P.F. used. We used multiple systems and these systems don’t cooperate with each other; and in turn we had to do a lot of manual work," he said.
He said the N.P.F. was retiring its previous system of operation after 25 years of service.
Members who once waited three working days for short term loan applications will soon be a thing of the past.
He said that 80 percent of the work they used to do manually will be handled by the system.
“The new system is one comprehensive package that caters for the accounting needs of the N.P.F.; customer service function and it also caters for the management of all the membership contributions accounts and it also handles and manages all of the member loans," he said.
“It is a highly automated system and it provides a comprehensive package and it enables us to improve the services to the public,” explained the C.E.O.
He said the new system was approved by Cabinet in 2017 and the first phase was completed in April 2019.
The second phase which allowed for full operational capability was completed in August, 2019.
“Now we have full capability and we can do so many things that were unable to do before; the reports for management decision making will be available in a timely manner. The whole point of this is to ensure that our service to the public is improved and that is the benchmark.”
Starting on Monday 7 October, 2019 the public will be able to view their account on any internet-enabled device.
“We will be launching our new service and app on Monday.”
Member must register with the N.P.F. in order to access their account online.
“The member will be able to see whether their employer last paid the contributions; keep track of your contribution; loan history and loan balances and you can do your own personal calculation,” said Pauli.
The C.E.O. said the guarantors will also have access to accounts they signed for.
“We have decided to provide that level of information into the hands of the members; so they can have immediate access to that information,” said Pauli.
He noted the service is to make it convenient for their members.
“We encourage the members to come and physically register in order to receive this service as we want to make sure this is your account; given that when it comes to internet there is always a question of security of ensuring the information is provided to the person that it belongs to,” said Pauli.
He also urges the members not to share their password.
“We have 80,000 plus members at the N.P.F. and each member will have their own unique password; and please do not share your password or log in details and it is directed for your own use; its private and confidential information and only you should know. We will not be responsible if you give someone your password,” warned the C.E.O.
He said the S.N.P.F. are continuously working to find ways to better their service to its members.