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Workers need not retiree in fear of their future... NLC Chairman, Comrade Sessi.

By Afolabi Oyekunle.



The future of Nigerian workers after retirement need to be guaranteed, hence proper scheme  needs to be put in place to ensure they do not retiree into penury.

Nigeria Labour Congress (NLC) Chairman in Lagos state, Comrade Funmi Sessi said this at a Pension summit in Làgos on Informal Workers  put together by INSPENONLINE.

NLC Lagos state Chairman Comrade Sessi.


Comrade Sessi observed that unlike the United Kingdom and other European countries, who have good policies that take care of their retirees, Nigeria case is different as many retirees are made to suffer due to unpalatable retirement policies.

She assured that the NLC is committed to policies that promote dignity of labour.

Comrade Sessi said there is need to build a society where retirement is not associated with fear and insecurity.

Delivering his paper on meeting retirement dreams of informal sector workers with insurance and pension instruments, renowned Economist and a former Director General, Lagos Chamber of Commerce and Industry, Dr. Muda Yusuf said there is need to build a strong trust for informal sector workers to key into the pension scheme.

"Without a strong trust majority of the informal workers will not key into it." 

Dr. Yusuff delivering his lecture.

 Dr. Yusuf said the informal Sector constitutes 92 percent of workforce in Nigeria, hence, there is need for financial dignity by the Insurance sector to woo them.

He harped on truth, behavioral alignment, flexibility and digital innovation in order to get informal sector participants into their fold.

Dr. Yusuf said Government policy must move beyond advocacy into active incentization.

He said a lot of anxiety mounts for retiring Workers because of fear and insecurity after exiting service as Government pays lip service to terminal benefits.

Dr. Yusuf said Government needs to reward Retirees who have served the country for decades without blemish adding that the dignity of Pensioners should be preserved.


Dr. Yusuf said Government policy must move beyond advocacy into active incentization.


Allaying fears of Annuitants who are not part of the PENCARE initiative of the National Pension Commission, the Head, corporate Affairs, of the Commission, Mr. Bua said the scheme, which is free health service to CPS Pensioners, is funded by Pension Fund Administrators, PFAs.

He said when the health care initiative matures with the first phase, capturing 30,000 CPS Pensioners, talks would hold with NAICOM to bring Annuitants on Board.



The cream of NUPCPS Leaders, at the state and Zonal levels, attended the seminar which also featured students of institutions of Higher Learning.

CPS Chairman in Lagos state, Comrade Michael Omisande at the occasion with some of his members.


Other members of the delegation.


Publisher INSPENONLINE and promoter of the Summit, Chuks Udo Okonta said his organisation was concerned with the fate of most informal sector workers hence the need for the summit.














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