The Ministry of Finance & Development Planning deemed 3rd party deductions made through the payroll system to be an administrative burden because of over committed salaries and numerous requests for deduction codes.
We protect Union members and other government employees from over committing their salary.
What We Do
A little bit more information about what we do exactly
LOANS management
Management of loans granted by the registered micro lenders such that civil servants do not over commit their salaries
CHECK affordability
Affordability and Multiple borrowing checks are done on credit applications
Why Outsource
3rd Party Payments
The benefits associated with the managing of third party deductions include the following:
1. Sustainable loan deduction payment
Applications for additional deductions will be referred to BOTUSAFE for affordability test. This will ensure that the applicant has sufficient funds to meet such deductions without eroding the stipulated take home pay
2. Confidentiality
BOTUSAFE has been managing deductions for micro lenders for the past 16 years with no serious complaints regarding wrongly submitted files or information
3. Management Reporting
All service providers/ micro lenders registered with BOTUSAFE are provided with the following monthly reports:
- a full file of deductions for that particular month
- a list of rejected or unpaid items
- administration fee amount charged
- an amount of value added tax applied
- a list of partly paid deductions
4. Equal distribution of deducted amounts
Our system is capable of proportionally distribution the deducted amongst all who had requested for deductions in case of insufficient funds.
How we do what we do
1.
Daily the service provider submit applications for new loans to BOTUSAFE for means test
2.
Same day BOTUSAFE will advice on the outcome on all applications as to whether they have passed or failed affordability test
3.
Monthly request for deductions from the Government payroll are submitted to BOTUSAFE around the 18th of the month
4.
For control purposes a pre run file is submitted first and BOTUSAFE validates the file for possible rejections and advice the service provider
5.
The service provider will then check the highlighted possible rejections and submit a final run to BOTUSAFE
6.
BOTUSAFE consolidates the final run files and submit to the Ministry of Finance
7.
On receipt of the file , the ministry checks it for outright rejections ( non-existent in the payroll) and advice BOTUSAFE
8.
BOTUSAFE deconsolidates the outright rejections file and electronically advice the service providers
9.
Funds deducted by MFDP for the approved credit applications are disbursed to registered service providers through BOTUSAFE Investments Pty Ltd.
