PRODUCT PURPOSE/DESCRIPTION
This is a specialized payment service that enables payment of pensions to retiring civil servants, usually as a Bankers cheques or electronic funds transfer to a designated account.
PRODUCT FEATURES
- Preparation & processing of pension payments,
- Delivery of prepared cheques to the South Sudan Pensions Fund (SSPF) for collection
- Advice to pensioner on Cheque collection (based on customer request)
Payment Options / Instruments:
- Electronic funds Transfer (EFT)
- International Transfers (SWIFT), subject to availability of Foreign Exchange (FX)
- Bankers Cheque
BENEFITS
- Simplified operational processes for pension payments by SSPF.
- Elimination of reconciliation challenges.