sCube

IIMPS Scalable Social Security (sCube) Application

sCube is a web-based, centralised transactional and administrative platform developed by IIMPS through a grant fund from KfW. sCube provides a secure, stable, transparent, low cost and scalable mechanism to deliver contributory pension and insurance products and benefits to the poor. It provides a high level of protection from fraud and enables the delivery of a range of important choices and rights to individual beneficiaries.

sCube issues a unique and portable individual account to each worker. Individual accounts are hosted on a secure central server and capture each worker's static and transactional data linked to micro-pensions, micro-insurance and no-frills bank accounts. Transactions in sCube can be effected either in real-time or through an off-line batch mode in remote areas with less efficient connectivity.

The sCube platform enables accurate deposit processing and reconciliation and also generates exception reports. It tracks field-level operations and maps individual contributions to aggregated transactions including receipts and challans of individual service providers. It also generates a demand for co-contributions and automatically updates individual accounts on the basis of fresh cash-transfers, interest or NAV (as the case may be). sCube generates account statements and secure passbooks and also provides periodic and on-demand access to a variety of reports and MIS to stakeholders including individual beneficiaries, service delivery partners, nodal officers, donors and government departments. 

sCube is being used already for micro-pension recordkeeping and administration for nearly 150,000 working poor located in 70 districts of 8 States. These workers have joined the IIMPS micro-pension scheme through SEWA (Gujarat and Delhi), BASIX, Janalakshmi, Nidan, and other grass-root partner institutions.

Using sCube, individual workers are able to also receive government co-contributions directly into their individual retirement and insurance accounts without any errors, leakages or loss in value. sCube enables governments and donors to select individual beneficiaries on the basis of their socio-economic profiles and access a range of real-time reports and MIS. Through central recordkeeping and appropriate safeguards, sCube effectively mitigates the risk of multiple accounts. sCube is being used already for administration and central recordkeeping of the Government of Rajasthan Vishwakarma co-contributory pension scheme that presently covers 50,000 informal sector poor across all 32 districts of Rajasthan.