Pension News

Retirees demand FG Improves Pensioners ‘ Welfare

Pensioners under the aegis of Nigerian Union of Pensioners Contributory Pension Scheme (NUPCPS) have said that improving the welfare of pensioners and workers should be a top priority of government.

Speaking at the 8th Annual National Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE), with the theme: “Role of Insurance and Pension In Building Sustainable Economic Growth Under The New Government,” in Lagos, the Secretary of the Union, Comrade Bisan Olufemi John, said the pension arrangement by the government was still far from being favourable to retirees.

He said there was no way government could successfully proffer solution to the economy without adequately satisfying the yearnings of both pensioners and those currently in service.

According to him, “the federal government has been struggling with getting the economy to work, but one thing that is clear is that the people are the ones that will contribute mainly to make such a reality.

“The government must first think of the workers, improve their welfare so that they can then contribute their quota adequately to the economy. It should be the people before the economy. Government should think of how to build the operators of the economy and also improve on the lives of pensioners.”

Speaking in the same vein, another retiree, also a member of NUPCPS, Comrade Olagbayo Johnson. O., said it was unfortunate that the current Contributory Pension Scheme (CPS) appeared to be failing.

He recalled that it was the failure of the Defined Benefit Scheme, which is government funded, that compelled the federal government to visit Chile to do a check on how the contributory Pension scheme works.

On her part, the Chairman, Nigeria Labour Congress (NLC), Lagos Chapter, Comrade Funmi Sessi, lamented that Nigerian pensioners were still far from having the deserved rest, adding that there was need for them to earn their benefits, rest and enjoy the fruit of their labour.

She condemned the poor approach by Pension Fund Administrators (PFAs) to paying benefits to pensioners.

She also specifically condemned the difficult process in accessing benefits by relatives of deceased worker, stressing that the request for a letter of administration and other documents should be made easier.

Also speaking as one of the participants at the event, the Local Chapter Chairman, Nigeria Association for the Blind, Ifako Ijaiye Chapter, Anuoluwa Yinka Isaac, said it was disturbing that Nigerian pension and insurance system does not have special products for the physically challenged in the society.

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