The NCSL has completed updating the backlog of member contributions uploaded from November 2024 to January of this year.
NCSL Chief Executive Officer Frans Kootte said this while giving update on the member accounts.
He said only a few member accounts are still pending updates, due to employers not providing payment schedules.
Mr. Kootte emphasized the importance of payment schedules as they show the correct amount of allocation per contributing member.
“We expect to have these remaining accounts updated by the end of this month.” Kootte said.
Mr. Kootte said with the majority of savings accounts now updated for the members, they have seen an increase in member numbers applying for higher loans to finance school-related expenses.
“Our MyNCSL online portal launched in December, has been accessible and we are seeing a rise in transaction as more members are using it and finding it easy to access,” he added.
Mr. Kootte reminded members that contributions are made on a fortnightly and monthly basis.
He urged the employers who have not yet submitted their schedules, to do so promptly for timely processing and updates.
The CEO also mentioned that members registered to MyNCSL can view and download their transaction history for both loan and savings accounts. By reviewing their transaction history, members can confirm when their contributions were last updated.
