Performance Indicators
The Fund is keen to constantly improve the level of its services, and to monitor them through a set of performance indicators whose results are announced in the presence of the work team members, to motivate everyone to achieve better results, which in its turn shall lead to the Fund's success in achieving its vision aimed at providing pension services in accordance with the highest international standards. The Fund also establishes a mechanism for linking clear strategic indicators with operational indicators, noting that the Fund’s Higher Management is keen to meet with the owners of priorities and officials of strategic indicators periodically to review the results and stand on the challenges and areas of improvement.
97% Accuracy Rate of Completed Transactions
The Fund undertakes a number of procedures that contribute to raising the accuracy of completed transactions, including reviewing and auditing all the transactions before their implementation, through the Unit Continuous monitoring, and the management succeeded in auditing approximately 21,268 transactions during the year 2021, and the accuracy of transactions reached 97%. Moreover, work has also been done to develop the monthly reports of the Continuous Monitoring Unit, inventory of recurring observations and working on the mechanism of its development and suitability of the Fund's requirements, within the framework of ensuring the development of work mechanisms and the completion of transactions with the highest possible accuracy.
99.83% Monthly Contributions Collection Rate
The Fund’s team succeeded in raising the indicator of collecting the monthly contributions within the specified time, as a result of the Fund’s adoption during the past year, a number of developmental measures and new projects, especially the smart contributions project, which contributed to raising the indicators of commitment to pay contributions, as the percentage of collection of due monthly contributions on time increased to 99.83%
Increase Entities Compliance
Entities are the main partner of the Fund in providing high-quality services, as they
are the main supplier of monthly
contributions amounts and customer data. The Fund’s team has succeeded in raising the
compliance rates of entities
through continuous communication and awareness processes and the establishment of a
number of controls that contributed
to preserving the insurance rights of citizens.
During 2021, the compliance rate of entities increased to 12% compared to last year,
which reflects the effectiveness of
the role of the Inspection and Compliance Division, which is not only responsible for
inspection, but also seeks to help
entities to overcome the obstacles they face in complying with the Pension Law.
96.4% Time Commitment in Services Provision
The Fund is keen to take into account the accuracy and speed in its services provision, and a time rate has been set for providing each service, in accordance with the approved international standards, and the outcomes of the operational indicators resulted in the increase of time commitment in the Fund’s services provision to 96.4%
204,201 Completed Transactions
The Fund provides its services directly or through its digital channels, through which it provides 21 electronic services in addition to 15 services via a smartphone application. During the past year, the Fund succeeded in completing 204,201 achievements, which were received through the Fund's various approved channels.
