Abandoned pensioners

The Nigeria Union of Pensioners has decried the worsening plight of its members, lamenting that many pensioners, especially those at the state level, still earn as little as N5,000 monthly despite the rising cost of living.

Speaking in an interview with Saturday PUNCH, the General Secretary of the Nigeria Union of Pensioners, Actor Zal, said most state governments had failed to prioritise the welfare of their retirees, disclosing that only 13 states were currently paying pensions and gratuities regularly.

“Many of the state governments do not treat their pensioners well, unlike the federal retirees, who are better off because their minimum pension is N32,000. Some of the state pensioners receive as low as N5,000 as a monthly pension. What can N5,000 do for someone in our present economic condition?

“The cost of living is very high, and things are very expensive, and the pension cannot sustain them. As far as our union is concerned, we will always cry out for more consideration in terms of the high cost of living, and we will continue to plead with the government to do everything possible to see that pensioners are well taken care of,” Zal said.

He faulted the Federal Government’s pension-backed loan scheme, arguing that most retirees lack the financial means to repay them.

Recall that the government, through the Nigerian Consumer Credit Corporation, launched a pension-backed loan scheme designed to empower retirees.

The initiative, launched in collaboration with Leadway Trustees and Optimus Bank, offered retirees access to loans, starting from N50,000, with the maximum benchmark to be determined by the size of the pension income. Punch