Retirees don’t have to beg for pension - Sali
What is your assessment of retirement in Nigeria?
There are gaps existing between the life of a retired person and what it is supposed to be. That gap has meant that retirees, who are supposed to enjoy the last segment of their lives because of what they have done in the last 30 or 40 years find it very difficult to make both ends meet simply because arrangements have not been adequate for them to sit back at retirement and enjoy their lives.
These gaps are from both the retirees as well as from the authorities. Not much in terms of education and enlightenment has been given to workers that a day will come when they will exit the formal employment and be responsible for the management of their own affairs without expecting a formal salary.
The retiree has on his own part has the responsibility of ensuring that he takes cognisance of the fact that a day will come when he will exit and take care of his life. On the part of the government, it is supposed to design policies that will help the retired employees to live good lives when they retire.
When exactly is a worker supposed to start planning for retirement?
From the day you enter the service you are supposed to start planning for retirement knowing that someday you will retire. Preparation for retirement starts from day one at work. Preparation is important because even though you are on pension, the pension may not necessarily Alhaji Isa Bello Sali is a retiree and Chairman of the Council of the Institute of Retirement Management-Nigeria. In this interview, he says retirees do not have to beg for pension as it is their right. He also speaks on major issues affecting pensioners in the country and how the newly inaugurated institute will help to champion the cause of retirement and pension in the country. be as robust as the salary. But, if carefully planned what he earns from the first day on the job, things will be better. There will be a sunset and that sunset needs to be planned and planned properly.
There are clamours for upward review of the lump sum paid to retirees on the contributory pension scheme to 75 per cent from the current less than 50 per cent. What is your take on this?
There will always be clamour
What is your take on the bureaucracies that impede easy access to retirement benefits for retirees?
It is a matter of management. Most of these things are not properly managed and once they are not properly managed, you will have issues. The authority has its own part of the challenge, and the individual also has his. This can be solved by talking to the authority as well as the recipient to cushion the problem so that there will be a win-win situation between the retiree and the authority.
What is the current status of the Institute of Retirement Management in Nigeria?
The institute is a non-state actor that has come to assist both the employer and the employee to address gaps that have been identified in the management of pensions in the country, both in the private and public sectors. It will intervene by telling management and staff what to do to improve retirement packages and benefits.
It has the wherewithal, the competence and the knowledge to address those issues that are at the root of the challenges we have in the pension sector both in the private and public sectors. It is approved and registered by the Corporate Affairs Commission principally to provide advocacy and capacity building to help pensioners on related issues.