Pensioners Decry Neglect as Some Retirees Still Earn N5,000 Monthly — NUP Demands N60,000 Minimum Pension

The Nigeria Union of Pensioners (NUP) has expressed deep concern over the worsening living conditions of its members, lamenting that many state pensioners still receive as little as ₦5,000 monthly despite the soaring cost of living.

In an interview with Saturday PUNCH, the NUP General Secretary, Actor Zal, criticised state governments for neglecting their retirees, revealing that only 13 states currently pay pensions and gratuities regularly.

“Most state governments have abandoned their pensioners. Unlike federal retirees whose minimum pension stands at ₦32,000, many state pensioners survive on ₦5,000 a month. In today’s economy, what can ₦5,000 do?” Zal asked.

He stressed that the high cost of living has made life unbearable for retirees and urged governments at all levels to take urgent steps to improve their welfare.

The NUP also faulted the Federal Government’s recently launched pension-backed loan scheme under the Nigerian Consumer Credit Corporation, describing it as unrealistic. The initiative, introduced in collaboration with Leadway Trustees and Optimus Bank, aims to provide retirees with loans starting from ₦50,000, depending on their pension size.

Zal, however, argued that the scheme would further burden pensioners rather than help them.
“Where will pensioners get the money to repay such loans? The government wants to recover loans from already inadequate pensions. This policy is like fetching water with a basket—it won’t solve our problems,” he stated.

The union reiterated its call for a ₦60,000 minimum pension to cushion the effects of inflation and demanded that retirees be included in compulsory health insurance, subsidised transport, and food support programmes.

According to the NUP, the escalating cost of goods and services has made it nearly impossible for most retirees to survive on their current stipends.

Zal also called for a comprehensive review of the contributory pension scheme, saying its implementation has left many retirees struggling to make ends meet. He urged the government to ensure that future increases in minimum wage and pensions reflect in both the old and contributory pension schemes.

“The contributory pension system is good in principle, but it needs serious reform. Any increase in minimum wage or pension should also apply to contributory pensioners to ensure fairness and sustainability,” he said.