Expert unveils book on retirement

Following the inadequate literature on retirement management in Nigeria, a book titled ‘Retirement in Nigeria: A Management Approach’ has been unveiled to address critical issues on retirement.

“People in retirement and those planning retirement in Nigeria do not have literatures to consult,” said Felix Amadi, MD/CEO, Crown Insurance Brokers Limited and author of the book.

Since the 2004 review of pension laws in Nigeria, retirement planning has been an important part of the working population’s daily lives. Also retirement is also a period most dreaded by workers, especially those in public service mostly by the state and local government employees.

According to Amadi, retirement provides the stimulus for government to make laws that promote social affairs for senior citizens.

The book, which will be officially unveiled on November 5, 2020 in Lagos and formally presented to the public on November 19, in Abuja, is a pioneer publication in retirement management according to the author.

Speaking on the focus areas of the publication, Amadi said the book addresses challenges of retirement in Nigeria, on the back of research being an important component of retirement management.

He observed that corruption in Nigeria was fuelled largely by wrong perception of retirement by civil servants. This is because many hold the opinion that they will not get their due after retirement, hence government should pay more attention to employees’ benefits.

According to Amadi, government should leverage advocacy to achieve social safety net in Nigeria. “We want to see more reviews of pension laws, especially Military pension, said Amadi stating that there is a need to partner with pension administrators, agencies, and all relevant stakeholders.