NATIONAL PENSION SCHEME
AUTHORITY
PERFORMANCE REVIEW SUMMARY
2004
CORPORATE
PERFORMANCE RATING SCALE
LEVEL PERCENTAGE
5 112 – 120 %
4 104 – 112 %
3 96 – 104 %
2 88 – 96 %
1 80 – 88 %
N/A Not Applicable
DESCRIPTION
EXCEPTIONAL
The position holder is regarded as
a unique contributor
SUPERIOR
Exceeds performance
expectations
COMPETENT
Copes with the position as
expected
LEARNING
Some aspect of performance
needs improvement
INADEQUATE PERFORMANCE
Use this when you are completely
unsighted on a particular measure
 SUMMARY

OUTPUT WEIGHT % PERFOR- WEIGHTED

MANCE PERFO
% R-
MANCE
COLLECTED FUNDS 25 110 27.50

PAID BENEFITS 10 100 10.00

INVESTED FUNDS 10 97 9.70

MAINTAINED LEGAL ENVIRONMENT 10 102.5 10.25

STATUTORY DOCUMENTS 5 105 5.25

MEMBER DOCUMENTS 5 102.5 5.12

ORGANISATIONAL IMAGE 8 106 8.48

PUBLICITY CAMPAIGNS 7 80 5.60

BOARD REPORTS 5 100 5.00

CONTROLLED EXPENDITURE 15 105 15.75

OVERALL PERFORMANCE 102.65

 OUTPUTS WITH RATINGS AGAINST CRITERIA

1. COLLECTED FUNDS

Definition: Income received from employers either received directly or collected

through compliance activities and banked during the period 1 January 2004 to 31st
December 2004
Weight: 25%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
% registered employers √ Require more accurate data
% payment on time Change criterion 2005
Funds banked √
Supporting information √ Require more accurate data
Compliance action √
Cost of collection Require more detailed data
Total income √

Performance = 110%

2. PAID BENEFITS

Definition: Appropriate benefits paid to qualifying members and beneficiaries

according to prescribed rules
Weight:10%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
NPF posting period √ Refine criteria
NAPSA posting period √ Refine criteria
Accuracy of payments √
Customer service √ Change criteria

Refine objective at corporate level

Performance = 100%
 3. INVESTED FUNDS

Definition: Funds invested in accordance with decisions of the investment committee

to achieve optimum return.

Weight: 10%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Investment income Kb √ Review criterion
Investment decision time √
Income=inflation rate+ √ Change criterion

Broaden criteria
Refine output

Performance = 97%

4. MAINTAINED LEGAL ENVIRONMENT

Definition: Legal status of the organization maintained. Legal provisions of the Act
enforced. Legally required payments calculated, recorded and delivered. These include:
Income tax on employees, Value Added tax, etc. Suppliers of goods and services paid in
accordance with agreements.

Weight: 10%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Timeliness, √ Change criterion
accuracy
Supplier payments √
Claims against √ Rewrite criterion KS+ LC
NAPSA
Tax returns V
Legal claim success √
Staff integrity √
Staff awareness of √
law
Legal √ Need measurement
professionalism

Add “DEFENDED LONG

STANDING CASES”

Performance = 102.5%
 5. STATUTORY DOCUMENTS

Definition: Legally required documents compiled and delivered. These include:

Statutory (audited) financial statements, actuarial and statistical reports on economic
and demographic trends in relation to the pension industry to inform or assist in decision-
making.

Weight: 5%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Timeliness √
Accuracy √
Currency of information √ Clarify criterion
Relevance √
Use of standard formats √
Completeness √
Legal conformity √
Within fee structure √

Performance = 105%

6. MEMBER DOCUMENTS

Definition: Statements of contributions made by members compiled and

delivered. Membership cards supplied.
Weight: 5%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Cost of production √
Timeliness √
Accuracy √
Comprehensibility √
Time to issue/replace √
Chance of fraud √

Review criteria

Performance = 102.5%
 7. ORGANISATIONAL IMAGE

Definition: An image of NAPSA and the Pension Fund scheme created through
publicity and contact with entities and individuals.
Weight: 8%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Perceptions of √
honesty
Nature of publicity √
Social responsibility √
Customer √
satisfaction
Overall perception √

Require scientific measurement of

criteria

Performance = 106%

8. PUBLICITY CAMPAIGNS

Definition: Campaigns designed to educate and influence individuals and

entities in the benefits of the fund. Campaigns designed to educate members and
employers in their rights and responsibilities in relation to the fund.
Weight: 7%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Registration of attendees √
Correct return forms √
Attendance √
Informative/ interesting √
Use of media √
Focus of message √
Cost benefit √

Performance = 80%
 9. BOARD REPORTS

Definition: Reports on the activities of the Authority compiled from

scheduled Director reports, special reports and ad-hoc reports and
designed to provide information on the progress of the Authority.
Weight: 5%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Clarity/timeliness √
Conformity to reporting standards √
Relevance √
Storage √
User satisfaction √
Follow up √

Performance = 100%

10. CONTROLLED EXPENDITURE

Definition: Total expenditure (1 January 2004 – 31 December 2004) contained

within predefined boundaries through prudent management, observation,
monitoring and appropriate action.
Weight: 15%

Performance Level
Criterion 80% 90% 100% 110% 120% Comment
Recurrent expenditure √
Capital expenditure √

Performance = 115%