THE CHALLENGES OF AGEING

ADDRESSING THE CHALLENGES AND OPPORTUNITIES OF

AGEING:EMPOWERING SENIOR CITIZENS THROUGH PENSIONS: AN ADDRESS DELIVERED BY ENGR. E. O. OKEKE, OON, FNSE, FICE – HEAD OF SERVICE OF THE FEDERATION ON 23^RD OCTOBER, 2007

Protocol,

My dear Senior Citizens of Nigeria, it is a great pleasure and honour to have the opportunity to address you this morning.

2. It is a privilege to serve ones’ country in any degree. So it is even a greater privilege and honour to serve to a retiring age. Ageing is a natural process of life. Older persons are valuable resource. As we all know, a country without its old Service Men/Women is a country without history and this means the country has no origin. It is from the elders that we get the wisdom and advice to tackle today’s problems. Therefore, any reasonable society should care for its elders.

3. In Nigeria, as we all know, one retires after 35 years of service or the attainment of 60 years of age, and is entitled to gratuity, repatriation allowance and pension. It is the policy of the Federal Government of Nigeria to have the Pension Law reviewed every 5 years. Many elderly persons throughout the world lack access to the essentials of life. The Government, having realized the inadequacies of the subsisting Pension Policy and realizing that the number of elderly pensioners are increasing due to unprecedented demographic change, has enacted a new Pension Act, tagged “Pension Reform Act 2004”,

which stipulates a Contributory Scheme throughout an employee’s service life and guarantees a life long access to regular pension. A retiree is entitled to the withdrawal of 50% of total contribution at the initial stage of retirement, and the balance spread accordingly. This new Pension Reform Act 2004 is still subject to improvement as the case and need arises.

4. Presently, the issues plaguing the old Pension Policy which resulted from the amortization and increases of 12%, 25%, 42%, etc. are still being worked out by a Committee set up to, among others:

- examine holistically the existing system of pension administration and

proffer solution on how the various applications for payment of

Gratuity and Pension can be processed within a specified time frame.

- to identify problems responsible for the delay in payment of Pension

and Gratuity and suggest ways and means the impediments can be

eliminated.

- to advise on the frequency of regular verification of Pensioners in the

country so as to reduce the problems of ghost pensioners.

- to devise methods in determining genuine state pensioners that have

Federal share of Gratuity and Pension, and

- most of all, to determine the current government liability to pensioners arising from all the increases.

My Office has received the recommendations of the Committee and is taking necessary action for the implementation of the recommendations.

5. Meanwhile, my Office in recognition of the inadequacy of pension payment, has embarked on some pre-retirement training to help retirees transmit from active services to other forms of enterprises. This is with the intention of helping to complement whatever is being earned as pension. Some of these schemes which are scheduled under the Social Services Department of my office are:

- Agriculture Credit Scheme in conjunction with (NAIC).

- Pre-Retirement Training on Fish Farming.

- Other small, medium scale entrepreneurship training.

6. On this note, I want to assure you that Government is doing all that is possible to improve the welfare of its Senior Citizens, as it is our prayer as present serving Civil Servants to be so recognized in future. The labour of our Heroes past shall never be in vain.

7. I, personally believe that Senior Citizens have the right to self fulfillment, dignity and respect, personal security, freedom of speech and association, prompt income, health-care and shelter. I will therefore strive see to the empowerment of Senior Citizens as full participants and equal citizens in our society. Therefore, I work diligently to see to the resolution of the knotty issues regarding pension administration.

8. May God bless you all and this Great Country.