By Cross Udo, Abuja
Yesterday, the federal government said it is committed to safeguarding the dignity and well-being of retired Nigerian workers and engaging in initiatives that will improve the lives of pensioners.
The government also said that several policy reforms have been implemented to address challenges affecting workers during retirement.
This came as the Nigeria Labour Congress (NLC) decried the untold hardships many retirees endure due to unplanned retirement and a lack of social safety net to enable them to adjust to a new phase of life.
Speaking while declaring open the 2025 National Pre-retirement Summit in Abuja, Secretary to the Government of the Federation Senator George Akume said that the government is determined to make pensioners’ lives more comfortable.
The SGF, represented by the Permanent Secretary in his office, Nnamdi Mbaeri, said that retirement should not signify an end but rather a transition into a phase rich with possibilities.
He lamented that retirement, which was once viewed as a time of rest and reflection, “has now become a period marked by uncertainty, vulnerability and, at times, distress for many in Nigeria and across the ECOWAS region.
“Many retirees face challenges such as financial instability, health concerns and a lack of direction post-retirement.
“Federal government remains deeply committed to initiatives that safeguard the dignity and well-being of our senior citizens. Through policy frameworks, institutional partnerships, and targeted interventions, we will continue to support efforts that ensure every Nigerian retires with confidence, dignity and opportunity,” he said
He urged workers and participants to use the summit’s opportunity to collaborate, learn, and pave the way for a future where retirement is not feared but enthusiastically embraced.
Also, the NLC President, Joe Ajaero, lamented the absence of a proper transitional arrangement for retiring workers.
He said that retirement for Nigerian workers has continued to pose a nightmare because of the sufferings and uncertainties associated with it.
Ajaero said that Nigeria has been tinkering with new reforms and the old pension scheme, but none of them have brought the workers the relief they need.
Ajaero said the country lacks a proper transitional arrangement for retiring workers and no social security initiative or safety net for retirees and citizens.
He said, “Once you mention retirement, people think they will be retired to the dustbin of history. The way we retire in this country without a transitional arrangement makes it worse. One month after retirement, things get bad for the worker.”
Ajaero suggested setting aside one year for a transitional programme leading to a worker’s eventual retirement to enable him to prepare adequately for his final exit from active service.
He said that organised labour is also pushing for a policy review to grant retirees access to at least 50 per cent of their contributory pension a year or two before proceeding to retirement so that they can make investments.
Earlier, Eugenia Ndukwe, the summit Convener and the Chief Executive Officer of Xem Consultants Limited said the aim was to empower would-be retirees “with the knowledge to effectively manage their finances, embrace entrepreneurial ventures, and reimagine retirement not as an end but as a vibrant new beginning.”
Ndukwe said the group was motivated to embark on the sensitisation initiative because most people approaching retirement are not adequately prepared.
“This Summit was born out of a sincere commitment to change that narrative,” she said.
While sharing her experience with managing pensions, the Representative of the Pensions Office, the Head of the Customer Relations Office of the Trust Fund Pensions, said that apart from helping workers invest their pension savings for profit, the fund also carried out pre-retirement and post-retirement sensitisation for affected workers.
