Nigeria’s Pensioners Face Uncertain Future as Some Receive as Little as N500 Monthly
In a shocking revelation, the Nigeria Union of Pensioners (NUP) has disclosed that some retirees in the country are still receiving a meager N500 as their monthly pension. Alhassan Musa, the Secretary of the union in Kaduna State, described the condition of these pensioners as “pathetic,” stating that they are struggling to make ends meet.
According to Musa, the worst affected are pensioners in Southern and oil-producing states, who are receiving a paltry sum despite receiving fat allocations from the federation account. In contrast, pensioners in some Northern states and the Federal Capital Territory (FCT) are receiving between N3,500 and N18,000 monthly.
Musa also highlighted that only retirees in Kaduna State are earning a minimum pension of N30,000 monthly, which was implemented by the state government in 2020 during the administration of Gov. Nasir El-Rufa’i. He advocated for a 50% upward review of the minimum pension to improve the social and economic wellbeing of retirees, considering the socio-economic realities in the country.
The union has proposed a 50% increment even under the defunct N30,000 national minimum wage, and is anticipating that the federal government will approve the increase in line with the new N70,000 national minimum wage. Musa also urged Gov. Uba Sani to emulate El-Rufa’i by being the first governor to implement the N70,000 minimum pension.
The secretary added that workers who retired under the contributory pension system are facing formidable challenges, and that pensioners should enjoy the same benefits as workers. He emphasized that if a worker is receiving N70,000 minimum salary, the pensioner should also receive the same amount.
The plight of Nigeria’s pensioners highlights the need for urgent action to address the country’s pension system, which is plagued by inadequate funding and poor management. The government must take concrete steps to ensure that retirees receive a decent standard of living, and that their contributions are recognized and rewarded.
