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NICO Pensions launches online member self-service pensions platforms | Malawi Nyasa Times

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As part of NICO Group’s ongoing endeavour to digitize its services and processes, NICO Pensions has launched state-of-the-art Online Pensions Member Self-Service and USSD platforms.

Announcing the development, which is the first on the market, NICO Pensions General Manager Gerald Chima said the two platforms will allow NICO Pensions members to stay up to date with their pensions in real time at the comfort of their homes or offices.

He added that the mobile and online platforms NICO has launched demonstrates the company’s commitment to responding to not only the needs of its customers but also the growing sophistication of their lifestyles and taste.

NICO Pension GM Gerald Chima

“We are determined to always do our part when it comes to being of great aide to our clients,” Chima said. “With these two platforms, members are guaranteed comfortability and transparency as they are essentially being given the opportunity to take control of their pensions using our system right in their premises.”

Chima urged clients to make use of available digital platforms — which are accessible by dialing *323# and on https://www.npsonline.mw — to eliminate the hassle of getting updates on their pension funds through manual means.

“We understand the value of information in a digitally advancing world, and with the introduction of these two platforms we will ensure that our clients can seamlessly manage their pensions and claims,” he said.

To access the USSD platform, clients should first provide NICO Pensions with their national ID and a mobile phone number, which can then be used to self-register by dialing *323# and follow the menus.

The USSD will, among other things, provide an account summary, claims documentation and an option to switch between accounts if one is a member of multiple pensions funds.

Members and principal officers can self-register on the Online Member Self Service, view contribution history, initiate a claim and track progress of a claim, among other services.

“NICO Pension remains committed to being the one pension administrator that can be trusted by its members and those looking to enjoy a well-mapped-out retirement,” Chima said.

In July, NICO Group incorporated NICO Pension and NICO Capital into its stand-alone subsidiaries in the bid to continue providing relevant, affordable and innovative financial solutions to its customers.

NICO Pension was delinked from NICO Life while NICO Capital was hived off from Asset Managers to focus on capital raising initiatives for clients as well as for the Group.

This is for future growth going forward after 50 years of existence of providing general and life insurance, pension administration services, banking, asset and capital management and infrastructure development and property management services.

During a virtual annual general meeting in July, chairperson of NICO Group’s Board of Directors, Gaffar Hassam had said from the 2020 survey, NICO’s clients are registering increasing satisfaction with their services and thus they expect significant customer service improvement for NICO Life and NICO Pension by the second half of 2021 when the new core systems in those companies will have been rolled out.

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