The National Public Relations Officer (PRO) of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Mr. Etheleert Ibeh, has called on the government to settle all outstanding arrears of pension increments.

He explained that pensioners have not received any increase in their pensions, despite the frequent hikes in the minimum wage. Ibeh pointed out that according to the relevant law, any increase in the minimum wage should be accompanied by a corresponding percentage increase in pensions.

He emphasized that both pensioners and non-pensioners purchase goods in the same market, yet pensioners are still receiving inadequate amounts. “We used to receive very small pensions that were barely enough to survive on. Now, with the economic difficulties, we’re still getting the same amount. This makes it harder to live. Some of us still have children in school—how do we pay their school fees? Some of us live in rented apartments—how do we pay rent? How do we cover our food and medical expenses?”

Ibeh also pointed out that once a person reaches 60, they lose access to health insurance, even though it is during this period that they need it the most.

Mrs. Obialunanma Uzor, a retired Deputy Director, shared her experience, stating that she has not received any payments since her retirement in May 2024, and her health insurance has been discontinued. “My NHIS coverage stopped immediately after my retirement, and it has been a huge challenge. I now spend a lot on lab tests and medications, whereas I used to pay only 10%,” she said. “We pensioners need health insurance—our age means we require more medical attention.”

Another pensioner, Mrs. Ogheneyukaro Gloria, raised concerns about some Pension Fund Administrators (PFAs) being dishonest in their operations. “They operate selectively, usually assisting pensioners who choose programmed withdrawal, while ignoring those who opt for annuity. They shouldn’t force us to make choices that benefit them. We have the right to make decisions since it’s our money,” she said. Gloria urged regulators to investigate and oversee the PFAs’ activities.

Alhaji Musa Adamu, who retired as a Director in May 2024, expressed his frustration, stating that he has not received his benefits yet. “We are still waiting for the federal government to release the accrued rights to my PFA so they can calculate my pension. My family and I are starving. I can’t pay my children’s school fees, my landlord is pressing me for rent, and I can no longer access the National Health Insurance Scheme (NHIS). If you look into my eyes, you will see I need urgent medical care. We pensioners are suffering,” he said.

NAN reports that programmed withdrawal is a retirement plan provided by PFAs, offering monthly or quarterly payments to retirees for life. Annuity, on the other hand, is a retirement plan purchased from an approved life insurance company that ensures monthly or quarterly income for the retiree for the rest of their life.

BY

VangaurdNewspaper