As Nigeria marks Pensioners’ Day, the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) has called on the Federal Government to introduce a National Minimum Pension alongside the National Minimum Wage ahead of the 2027 review of workers’ wages.
The association, while felicitating its members and pensioners across the country on the occasion, said the proposed minimum pension should provide a guaranteed income floor for qualifying retirees, arguing that the principle of minimum income protection should not end when a worker leaves active service.
In a Pensioners’ Day message signed by its President-General, Elder Benjamin Maisamari Amako, and General Secretary, Franklin Erinle, FEPPPAN said Nigeria’s pension system must be strengthened to ensure that workers who spend their productive years serving the nation do not retire into financial insecurity.
The association extended warm greetings to FEPPPAN members and pensioners generally, commending their years of service and sacrifices to the development of the country.
It said, “With the country preparing for the next review of the National Minimum Wage in 2027, FEPPPAN calls on the Federal Government to begin consideration of a National Minimum Pension to exist side-by-side with the National Minimum Wage.”
“It is our considered view that the principle of a minimum standard of income should not end when a worker leaves active service,” the association added.
According to FEPPPAN, the National Minimum Pension should provide “a floor below which the pension of a qualifying retiree should not fall,” taking into account prevailing economic realities and the need to preserve dignity in retirement.
The pensioners’ body said such a policy would strengthen Nigeria’s social protection system and assure workers that their years of productive service would be followed by a secure retirement.
It also urged the Federal Government to extend meaningful retirement protection to workers in the informal economy, including traders, artisans, farmers, transport workers and small-scale entrepreneurs.
FEPPPAN said pension should be treated as a component of social protection rather than merely a post-employment expense, noting that an effective pension system could protect older citizens from poverty while reducing the financial burden on families.
It stressed that the responsibility for adequate pension protection extended to the Federal, State and Local Governments, as well as private-sector employers.
“Pension obligations must be properly provided for, contributions remitted as required and retirement benefits paid when due,” the association stated.
Applauds Tinubu on pension payments
On the Federal Government’s handling of pension payments, FEPPPAN expressed appreciation to President Bola Ahmed Tinubu for what it described as the prompt payment of monthly pensions and efforts to clear outstanding pension liabilities.
“We recognise these interventions and the relief they have brought to pensioners who depend on their monthly benefits for their livelihood,” the association said.
However, it urged the President to go further by approving the immediate payment of the long-overdue palliative arising from the removal of fuel subsidy, particularly for vulnerable pensioners facing rising living costs.
It also appealed for the settlement of remaining verified pension liabilities.
“For pensioners who have spent their productive years serving the nation, every outstanding benefit represents more than an accounting figure. It can determine whether a retiree can afford food, medication, accommodation and other basic necessities,” FEPPPAN said.
The association also linked effective pension administration to employment opportunities for younger Nigerians, arguing that workers who reach the appropriate retirement age should be able to leave active service with confidence and dignity, thereby creating room for younger Nigerians to enter the workforce.
It described retirement as part of a workforce renewal cycle involving “productive service, pension contribution, dignified retirement, new employment opportunity and a new generation of contributors.”
FEPPPAN therefore called for a pension system that workers can trust, stressing that retirement should not be a source of fear for those who have served diligently.
“The assurance should be simple: work, contribute, serve diligently and retire with dignity,” the association stated.
The pensioners’ body reaffirmed its commitment to engaging the Federal Government, state and local governments, employers, pension institutions, organised labour and other stakeholders towards building an efficient, transparent and sustainable pension system.
It said its Pensioners’ Day message centred on three immediate measures: the establishment of a National Minimum Pension alongside the National Minimum Wage, payment of the outstanding fuel-subsidy-removal palliative to vulnerable pensioners, and settlement of remaining verified pension liabilities.
FEPPPAN urged the government to ensure that pension policy remained responsive to the economic realities confronting retirees, saying, “Your years of service matter, your sacrifices matter and your dignity matters.”
The association also told workers still in active service that retirement should not be a source of anxiety, but “the dignified reward that follows a lifetime of productive service.”
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