— As NLC laments lack of transitional arrangement for retiring workers

By Johnbosco Agbakwuru

ABUJA — THE Federal Government on Wednesday said it is committed to safeguarding the dignity and well-being of retired Nigerian workers and engaging in initiatives that will improve life of pensioners.

The government also said that a number of policy reforms have been implemented to address challenges affecting workers during retirement.

This is as the Nigeria Labour Congress, NLC, has decried the untold hardships many retirees go through due to unplanned retirement and lack of social safety net to enable them adjust to a new phase of life.

Speaking while declaring open the 2025 National Pre-retirement Summit in Abuja, Secretary to Government of the Federation, SGF, Senator George Akume said that government is determined to make the life of pensioners more comfortable..

The SGF, 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 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, 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 opportunity offered by the summit to collaborate, learn and pave the way for a future where retirement is not feared but embraced with enthusiasm.

Also speaking, the NLC President, Comrade Joe Ajaero 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, who 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 does 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.”

Ajaero 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.

He 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.

Earlier, the Convener of the Summit and the 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”.

Ndukwe said the group was motivated to embark on the sensitization initiative due to 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.

While sharing her experience with managing pensions, Representative of Pensions Office: Head of Customer Relations Office of the Trust Fund Pensions said that apart from helping workers to invest their pension savings for profit, what the fund does was to carry out pre-retirement and post retirement sensitization for affected workers.