The Nigerian Union of Pensioners Contributory Pension Scheme (NUPCPS) has urged the federal government to promote the social welfare of retirees and workers in order to foster economic growth.
This was the group’s presentation at the eighth annual National Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos, with the theme “Role of Insurance and Pension in Building Sustainable Economic Growth Under the New Government.”
Bisan John, Secretary of the Union, stated that the government’s pension arrangement in the country is much below standard, as pensioners from public service are unable to meet their commitments.
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According to John, the portrayal of retirees’ anguish in the media continues to be frightening, giving concerned citizens negative feelings about public service.
He asserted that the government could not adequately address economic difficulties until it satisfied the desires of both retirees and those in the workforce.
According to him, the government has been battling to get the economy back on track since the current administration declared an emergency.
“The government must first think of the workers, and improve their welfare so they can contribute adequately to the economy. It should be the people before the economy.”
“Government should also think of how to build the operators of the economy and improve the life of pensioners,” the NUPCPS boss said.
The secretary also mentioned the failure to pay group life insurance claims to the next of kin of deceased civil personnel and expressed concern about alleged conflicts in annuity acceptance for pensioners under collapsed insurance companies.
He asked the government to provide options for retirees, stating that their well-being should not be limited to receiving stipends.