The UNJSPF has been awarded the Government Blockchain Association’s (GBA) Social Impact Award for its Digital Certificate of Entitlement (DCE) app. The award was presented at the GBA’s annual conference, “The Future of Money, Governance, and the Law” in Washington, DC on 24 May 2023.
The DCE app is a secure, tamper-proof solution that allows the recording of relevant transaction data on the blockchain. It contains the information that is needed to verify a retiree’s eligibility for a pension, including their name, date of birth, and employment history, exclusively on his/her device and protected by biometric security. The app is used to provide proof of life, which is required annually from UNJSPF retirees and beneficiaries to ensure that they are still alive and entitled to their pension benefits.
The DCE app has been a major success since its launch in 2021. It has been used by close to 23,000 UNJSPF retirees and beneficiaries, or one third of the eligible population in more than 180 countries so far. The app has helped to streamline the pension administration process, reduce errors, and improve the overall client experience.
In her acceptance speech, Rosemarie McClean, Chief Executive of Pension Administration, said that the award was “a testament to the tireless efforts and dedication of the entire team at the UN Pension Fund.” The DCE app “represents a significant milestone in our ongoing mission to streamline and enhance the pension administration process”, she added.
The GBA’s award for “social impact” is given to organizations that are using blockchain technology to improve the lives of their customers and the world. The UNJSPF is the first pension fund to receive this award. This follows the 2022 United Nations Secretary-General Award for innovation and sustainability, which is complementary with GBA’s award, which is being provided for the solution’s social impact on the Fund’s clients.
The award is a recognition of the UNJSPF’s commitment to innovation and its use of blockchain technology to improve the pension administration process. The DCE app is a significant step forward in the evolution of pension administration, and it is a model for other pension funds around the world.
For more information about the DCE, visit https://www.unjspf.org/for-clients/digital-certificate-of-entitlement/