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Some Pensioners Earning N4,000 Monthly, Says Union

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Pensioners
  • Some Pensioners Earning N4,000 Monthly, Says Union

The Nigeria Union of Pensioners has lamented that some pensioners still earn as low as N4,000 a month despite the high rate of inflation in the country and the devaluation of the naira.

The NUP, therefore, called on the government to ensure that as the national minimum wage was about to be reviewed upward, there must also be a minimum amount that the pensioners could earn.

The National President, NUP, Dr Abel Afolayan, said this at a press conference in Abuja on Tuesday.

He stated, “It will interest you to know that some pensioners still earn as low as N4,000 when the current minimum wage is N18,000. Recently, I bought a bag of rice for N16,500. With the present economic situation in the country, it (low pension) is unacceptable.

“It is inhuman for any worker or pensioner to earn less than N30,000 monthly. Whatever is finally approved as the national minimum wage should also apply to pensioners as the national minimum pension, with a corresponding circular clearly stating the minimum pension.”

Afolayan said having served for 35 years or more, it would be wrong to neglect senior citizens.

He asked Nigerians to join the push for a national minimum pension, because every worker would one day become a pensioner.

While thanking the Federal Government for the release of N22.4bn to settle the pension liabilities of the defunct Nigerian Airways, Afolayan said there was a need for the federal and state governments to do more.

The NUP president lamented that the Federal Government had yet to pay the 12-month arrears of the 33 per cent increase in pension since 2010.

He said all pensioners would picket the office of the Pension Transitional Arrangement Directorate if their demands were not met within 21 days.

Afolayan added, “Another important issue is the non-payment of the balance of the 12-month arrears of the 33 per cent pension increase of 2000. Needless to say, the payment of the balance of the arrears is long overdue.

“We had made several submissions and appeals at different forums to the Federal Government through the PTAD for this payment but to no avail.

“Consequently, and having been pushed to the wall, we are compelled to issue a 21-day ultimatum to the PTAD in compliance with extant labour laws, after which if no payment is made, pensioners will embark on a protest to picket the PTAD and other relevant offices.”

Speaking with our correspondent, the Executive Secretary, PTAD, Sharon Ikeazor, urged the pensioners to be patient.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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