NSITF processes over 11,000 disability benefits since inception
Since July 2011 when it began operations, the Nigeria Social Insurance Trust Fund (NSITF) has processed 11,000 disability benefits under its Employees’ Compensation Scheme (ECS).
This amounts to over N200 million through arrears, one-off lump sum and monthly payments to the employees.
Similarly, the scheme has also processed over 9,000 dependant/survivor benefits, which amounts to over N1billion through arrears, one-off lump sum and monthly payments during the same period.
The Managing Director and Chief Executive, NSITF, Adebayo Somefun disclosed this during an interactive retreat on ECS in Lagos.
Somefun, who explained how employers can enrol into the scheme said: “To access these benefits, the employer – government or private/individual – is required to pay only one per cent (1%) of total payroll of the employees to the NSITF, and this is at no cost to the employee. Once that is done, it becomes the duty of NSITF to carry the burden which otherwise would have gone to the employer where there is a workplace injury, death or disability.”
While celebrating the success story of the ECS, he said the Fund, which is poised to undertake its mandate with impeccable responsibility, Somefun urged employers to prioritise the welfare of their employees by enrolling into the scheme and paying the mandatory 1% ECS contribution.
To make the process of keying into the scheme easier, the NSITF boss said the Fund has introduced a digital platform called Electronic Contribution Collection, Compliance and Compensation (EC4), to galvanise enforcement compliance, claims and compensation activities as well as the overall operations of the Fund.
This, according to him, enables employers to easily register, pay contributions, access their ECS status and make claims, all online and in real time from the comfort of their offices or homes.
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