On Pensioners’ Day, the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) has asked the Federal Government to create a National Minimum Pension. They want this to be introduced along with the National Minimum Wage before the next wage review in 2027.
FEPPPAN believes that a minimum pension should ensure that retirees have a guaranteed income. They argue that workers should not face financial insecurity after leaving their jobs. In a message from their leaders, they praised the contributions of pensioners to the country and highlighted the need for a stronger pension system.
The proposed National Minimum Pension would set a basic income level for retirees, reflecting the current economic situation. FEPPPAN stated that such a policy would help protect workers and ensure a secure retirement. They also called for better retirement support for workers in informal jobs, like traders and farmers.
FEPPPAN emphasized that pensions should be seen as a vital part of social support, not just a cost for employers. They noted that a good pension system can help prevent poverty among older citizens and ease financial pressures on families.
While FEPPPAN praised President Bola Ahmed Tinubu for timely pension payments, they urged him to address overdue payments related to the removal of fuel subsidies, especially for vulnerable pensioners facing rising costs of living. They stressed that every delayed payment affects retirees’ ability to afford basic needs.
FEPPPAN also linked effective pension management to job opportunities for younger people. They believe that when older workers retire with dignity, it opens up jobs for the next generation. They called for a trustworthy pension system that ensures retirement is a positive experience for those who have served the country.
In conclusion, FEPPPAN’s message highlighted three key actions: establishing a National Minimum Pension, paying overdue benefits to vulnerable pensioners, and settling verified pension debts. They urged the government to keep pension policies aligned with the realities retirees face, emphasizing that every worker’s service and dignity matter.
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