The managing director of Norrenberger Pensions Limited, Mr. Hamisu Bala Idris, has revealed that only 10% of Nigerians have access to pension plans.
According to Vanguard, Idris also stated that 80% of Nigerian pensioners depend only on their monthly pension for survival.
He made these remarks at a retirement planning session in Abuja aimed at equipping those who were close to retiring and retirees for a financially secure future after retirement.
“80 percent of Nigerian seniors, many of whom live in constant fear of financial catastrophe due to delayed payments, rely completely on their monthly pension for survival,” according to Idris.
A comprehensive financial literacy workshop addressing important topics like financial planning, insurance, lifestyle modification, legal issues, and estate preparation was the highlight of the program.
He continued, “We organized this event to empower people with the required knowledge to maximize the profitability of their pension investments and ultimately secure a pleasant retirement in keeping with our aim to unlock opportunities in society.”
The Business Head, Asset Management of Norrenberger Pensions, expressed her delight for the initiative and its many advantages for the participants and society at large.
“We keep looking for methods to broaden our reach, deepen our market, and increase our contribution to Nigeria’s GDP,” she said.
Lastly, she emphasized the important part that occasions of this kind play in promoting financial security and literacy among senior adults in Nigeria and in having a beneficial impact on the capital market and economy of the country.
