The Nigeria Labour Congress (NLC) has charged workers to plan for their retirement rather than wait for the government.
The Congress lamented the sufferings many go through due to unplanned retirement and lack of social safety net to enable them adjust to a new phase of life.
President of NLC, Joe Ajaero gave the charge during the 2nd national pre-retirement summit in Abuja.
“There is a need for everyone of us to think of the next phase of life,” , Ajaero said.
The NLC president lamented the absence of a proper transitional arrangement for retiring workers.
He said that retirement for a Nigerian worker has continued to pose a nightmare because of sufferings and uncertainties associated with it.
Ajaero said that Nigeria has been tinkering with the issue of new reform and old pension scheme but none of them has brought needed relief to the workers.
Apart from the absence of a proper transitional arrangement for retiring workers, Ajaero said the country doesn’t have any social security initiative or safety net targeted at retirees and the senior 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, next one month after retirement, things begin to get bad for the worker.”
The NLC president suggested the setting aside of one year for a transitional programme leading to the eventual retirement of a worker to enable him prepare adequately for the final exit from active service.
Ajaero said that organised labour is also pushing for a policy review to grant retirees access to at least 50 percent of their contributory pension a year or two before proceeding on retirement for them to make investments.
The Federal Government said it was committed to safeguarding the dignity and well-being of retired Nigerian workers.
The government said that while a number of policy reforms have been implemented to address challenges affecting workers during retirement, it assured that the present administration was pursuing other initiatives meant to improve the lives of pensioners.
Secretary to Government of the Federation, Senator George Akume, said that the government was determined to make the life of pensioners more comfortable.
Akume, who was 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 a 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.”
He said: “Many retirees face challenges such as financial instability, health concerns and a lack of direction post-retirement.
“The federal government remains deeply committed to initiatives that safeguard the dignity and well-being of our senior citizens. Through policy frameworks, institutional partnerships, targeted interventions, we will continue to support efforts that ensure every Nigerian retires with confidence, dignity and opportunities.”
The SGF urged workers and participants to use the opportunity offered by the summit to collaborate, learn and pave the way for a future where retirement is not feared but embraced with enthusiasm.
Convener of the Summit and Chief Executive Officer of Xem Consultants Limited, Eugenia Ndukwe, said the aim was to empower would-be retirees, “with the knowledge to effectively manage his finances, embrace entrepreneurial ventures and to reimagine retirement not as an end but as a vibrant new beginning.”
She said the group was motivated to embark on the sensitisation initiative due the fact that most people approaching retirement are not adequately prepared.
“This summit was born out of sincere commitment to change that narrative,” she said.
