The Nigerian Labour Congress (NLC) is calling for an increase in the Retirement Savings Account (RSA) withdrawal limit from 25% to 50% to help workers meet urgent financial needs like education, healthcare, and agriculture. NLC President Comrade Joe Ajaero made the demand during a roundtable with the National Pension Commission (PenCom) in Abuja.
Ajaero also urged the Federal Government to fully constitute the PenCom Governing Board, warning that the current lack of a full board threatens the integrity and governance of the pension system. He stressed the need for faster pension payments, better worker benefits, and tougher action against non-compliant employers.
On the other hand, PenCom’s Director-General Mrs. Omolola Oloworaran highlighted ongoing reforms, including “Pension Revolution 2.0” aiming to expand coverage and improve services. She emphasized that strong partnership with labour unions like the NLC is vital to maintain trust and strengthen the pension scheme.
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