The coming into force of the 2014 Pension Reform Act was a dream come true for many Nigerians who had hitherto looked forward to retirement with trepidation. Until then, for senior citizens who had attained the age of retirement, it was tales of tears as they were displayed under the elements awaiting payment of stipends. Many died in the process.
The reform sought to infuse discipline in the system and process, thus assuring workers that their labour would count for something in old age; that Nigeria indeed cares for all. However, since the benefits were under a contributory pension scheme, it could only be drawn after attaining the minimum retirement age of 50. However, there has been concern over the fate of workers forced to retire owing to sickness, having not attained the minimum retirement age. Another category of contributors under the scheme lamenting their fate are those still in employment but struck with rare ailments which neither the governments nor private employers are willing to pick the bill. This is a dilemma.
We agree with PenCom that those forced to retire early on account of ill health should be placed on their monthly stipends and allowed to draw 25 per cent of the balance in their retirement savings account as provided in the Act. The commission said about 320 persons has already been considered on this account. But, it should be extended to those who may take gravely ill while still in active service. It is only logical that, with the sorry state of the National Health Insurance Scheme that places the burden of health treatment on the individual, those who have savings in their pension account should be allowed to treat themselves with part of the money rather than be allowed to writhe in pains, waste away and probably die.
If the rules have to be amended to accommodate such a humane provision, the time to do so is now. While conscious of the fact that the sick could be healed after depletion of the savings, thus defeating the essence of the scheme, it must be understood that the sick must first recover from the ailment to possibly access their savings. However, there must be a device by which the sick worker would have enough to start life after retirement.
It’s a shame that Nigerians can still not access the full benefits of a national health insurance scheme. It remains largely a public sector scheme for federal workers. The state governments and private sector employers are staying out for reasons best known to them. It behooves the Federal Government to break the mould and make the scheme inevitable for promotion of the good health of workers and development of the health sector.
The health and lives of Nigerians should not be devalued or imperilled directly or indirectly by government’s actions or inaction. The 21st century is signposted by advancement in technology and pro-people policies that Nigeria should take advantage of. It is good that PenCom is expanding the frontiers of the pension scheme to accommodate hitherto neglected participants, but the National Assembly should improve the quality of the scheme and make it enticing to all, whether public or private sector workers, or even those in the informal sector.