DODOMA: NMB Bank has launched special services for senior citizens and prospective pensioners in efforts to provide innovative banking products to all segments of the society.
The lender launched the special package dubbed NMB Hekima Plan yesterday at a workshop to educate them on how to enjoy a financially secure life after many years of serving the country diligently.
The Minister of State, Prime Minister’s Office (Labour, Youth, Employment and Persons with Disability) Prof Joyce Ndalichako said the package and its education programme was an innovative idea and a brilliant scheme for advancing decent pensioners’ lives.
“The government will continue to create proper operational conditions for pension funds and improve the investment environment so that pensioners can capitalise on opportunities brought by lenders like the NMB Hekima Plan,” she said.
She added that it adds value to efforts of the government to better the local pensions sector and ensure senior citizens not only enjoy their retirements but also continue to play a decisive role in national building efforts.
Stressing the importance of retirees’ fiscal discipline in spending their pensions, the minister said measures taken by the government in the sector include improving the liquidity positions of pension schemes and enhancing services.
According to her, investments being made in digital solutions have greatly improved delivery of pension services in the country and support from stakeholders like NMB Bank will further make things better.
Speaking at the event, the bank’s Head of Government Business Department, Ms Vicky Bishubo, told over 400 Dodoma pensioners and future retirees that the financial solutions will principally enable them to cope with challenges of life during retirement.
She said that NMB Hekima Plan that also enables pensioners to make informed investment decisions is part of the enlightenment programme seeking to accord them a life with dignity after many years of active national service.
“NMB will continue to improve how to better serve retirees and extend to them the requisite financial knowledge and resources,” she added, noting that the development cements the commitment to provide highly innovative services to all members of society.
Ms Bishubo said financial solutions in the package include various flexible-term soft loans as well as mortgages through which pensioners can borrow up to 1.0bn/-.
There are also special accounts with benefits such as a 2.0m/-compensation in case of death of retirees or their spouses and a similar amount for permanent disability.
The arrangement equally offers senior citizens lessons on health issues and how to securely manage their finances as well as guiding them where to profitably invest their pensions.
The other key aspects of NMB Hekima Plan are its various life and property insurance policies, whose premiums Ms Bishubo said are highly competitive in the market.