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Our Strategy

Purpose

PIFSS's purpose statement balances its role as pension administrator and custodian of sustainable social security ​​​
  • Provide leading and sustainable social security services to guarantee Kuwaitis’ wellbeing

Strategy Priorities

Five strategic priorities are derived from PIFSS's purpose statement​

 Institute diligent investment practices to ensure sustainable returns
​

Continue to set the standard for citizen experience to support PIFSS’s social security obligation​

Play an active and transparent role in shaping the agenda for social security services​

Enable digital transformation

Attract and retain top talent and support a performance-based culture

Strategic Objectives

PIFSS’s strategy further cascades into 19 objectives​

Pension Administration

  • Redesign participant journeys by leveraging digital innovation
  • Boost migration of participants to digital channels and increase volume of digital transactions
  • Drive citizen awareness to shape retirement behavior

Information Technology

  • Boost reliability, speed and efficiency by modernizing technology systems & processes
  • Partner with sectors in developing end-to-end digitized journeys
  • Enable insight-based decision making through data integrity, availability, and accuracy
  • Build and operate a robust information security framework

Investments & Operations

  • Achieve investment returns in line with actuarial target and Strategic Asset Allocation
  • Ensure flawless monitoring, reporting and analysis of investments by implementing best-in-class systems
  • Ensure long-term independence and success of subsidiaries

Finance & Administration

  • Attract, retain, and develop top talent in collaboration with other sectors
  • Drive operational efficiency through simplification, digitization, and automation of internal processes
  • Enable timely execution of transformation by securing necessary funding and approvals

General Administration

  • Lead execution of overall strategic transformation
  • Modernize PIFSS’s image
  • Nurture a collaborative and transparent culture
  • Drive reduction of actuarial deficit and share insights to provide transparency
  • Align policies and procedures with evolving sector priorities and ensure regulatory compliance
  • Provide legal support for strategic transformation

Initiatives

Strategic objectives will be realized by implementing 26 initiatives
across the different sectors​

Pension Administration

4

Initiatives

Information Technology

5

Initiatives

Investments & Operations

5

Initiatives

Finance & Administration

5

Initiatives

General Administration

7

Initiatives

KPI's

Overall success of the transformation will be measured through 4 institutional KPI's​

PIFSS App

Sahel App

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