The Nigeria Social Insurance Trust Fund (NSITF) has urged Nigerian workers to begin planning for retirement during their active years, stressing that retirement security depends on protection and social support built throughout working life.
NSITF Managing Director, Mr Oluwaseun Faleye, made the call, on Thursday September 24, at the 2026 National Pre-Retirement Summit in Abuja, themed “Own Your Retirement: From Planning to Action.” He said retirement security was linked to workplace safety, protection of workers’ earning capacity, compensation for occupational injuries and support for affected families.
Faleye said the Employees’ Compensation Scheme (ECS) provides compensation, medical care and rehabilitation for workers affected by occupational injuries, diseases, disabilities or death. He disclosed that more than 7.8 million workers had been enrolled under the scheme, while average claims processing time had been reduced from 14 to 10 days.
He said the Fund had also begun paying beneficiaries in Treasury-funded Ministries, Departments and Agencies, adding that registration alone was insufficient to guarantee protection. He urged employers to comply with contribution requirements, maintain accurate worker records and ensure timely payment of benefits.
Faleye said NSITF would strengthen workplace inspections, accident investigations, safety advocacy and rehabilitation programmes to reduce occupational hazards and protect workers’ health and earning capacity.
He stressed that retirement security required shared responsibility among government, institutions, employers and workers. He said NSITF remained committed to expanding coverage, improving compliance and strengthening coordination so that social protection translated into tangible support for workers and their dependants.
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