Micro Pension Plan: Buhari Pledges to Restore Dignity of Retired Public Servants

President Muhammadu Buhari has promised that his administration will restore the dignity of retired public servants who devoted years of service to the growth and development of Nigeria.

Buhari made the pledge on Thursday during the launch of the Micro Pension Plan organised by the National Pension Commission at the State House Conference Centre in Abuja.

The President said retired public servants deserved better treatment and an efficient pension system capable of meeting their needs after leaving active service.

He also promised that his administration would continue efforts to address problems within the pension system and ensure that retirees receive the benefits due to them.

“The dignity of retired public servants who sacrificed their lives for this country will be restored. We will ensure that hardworking Nigerians in the private sector, both formal and informal, can retire without fear,” Buhari said.

The President said the Federal Government would continue supporting the National Pension Commission to ensure the successful implementation of the Micro Pension Plan.

According to him, the programme was designed to bring millions of Nigerians working outside the formal corporate sector into the pension system.

Buhari said his administration was also working to address longstanding challenges inherited in the pension sector, particularly issues surrounding delayed payments and inefficiencies affecting retirees.

He assured Nigerians that despite limited government resources, his administration remained committed to resolving outstanding pension obligations in the federal public sector.

The President called on trade associations, labour unions, non-governmental organisations and other stakeholders in the informal sector to work with the government and pension industry to educate Nigerians about the benefits of the Micro Pension Plan.

He noted that millions of traders, farmers, artisans and small-scale entrepreneurs remained outside existing pension arrangements and therefore faced uncertainty about their financial security after retirement.

According to Buhari, the Micro Pension Plan would provide such workers with an opportunity to save regularly and prepare for retirement.

He said the programme would help ensure that hardworking Nigerians in the informal sector could maintain a reasonable standard of living when they were no longer economically active.

The President added that the initiative formed part of his administration’s broader efforts to promote economic inclusion and improve opportunities for Nigerians.

He said the Federal Government had also introduced grants, concessionary loans and technical assistance through programmes supporting farmers, traders and small and medium-sized enterprises.

Buhari maintained that expanding pension coverage to workers in both the formal and informal sectors would contribute to greater financial security and allow more Nigerians to retire with dignity and comfort.