Nigeria:Pension Firm Tasks Workers on Early Planning for Retirement

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Public servants have been urged to begin their exit from service early to prevent the late process of their retirement documents.

The Executive Director, Investment, Stanbic IBTC Pensions Managers Nigerian Limited, Oladele Sotubo, said proper and early planning would address the challenges and lapses in the pension scheme.

He stated this in a one-day customers Forum for intending retirees in Port Harcourt the Rivers State capital.

He said: “Delay and late processing of pension benefits have affected a lot of Nigerian, hindered several persons from accessing their benefits before they die, hence the need to educate Nigerians on the necessary procedures for early pension planning.

The essence of the forum is to sensitize people that are very close to retirement, those between the aged of 48 to 50 people have plus or minus two years to retire, to start working on the necessary procedures for their retirement, need to check and ensure that their records with their employers and pension managers are correct.

“The problem is that Nigerians when we are asked to do something, we wait till the very last minute and this norm has affected a lot of people, they will do nothing to process their retirement benefits but a day after retirement, they just come to ask for their money.”

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