By Hope Nwawolo
In the recent national crises of naira notes swap, shortage of fuel and dwindling economy, no thought has been given to the retirees or pensioners who usually throng to the bank from the middle of the month to take their pension stipend for their upkeep. How have they been surviving through this period when even their children who may have been contributing to their upkeep cannot access their money? What is happening to those of them that have retired to the village and do not have where to collect fund even if they get someone to make a transfer? How are those with health challenges and need regular medication replenishing their drugs? These are questions that no one but these respected but abandoned citizens can answer and l dare to say many of them may not even have the strength to utter a word on their predicament. One may just need to deduce the answers from their physical condition and perhaps subtle moans and unshed tears in their eyes.
A particular heart-wrenching incident took place in one of the big banks during the naira swap hullabaloo recently. A woman took her medical prescription to the bank to drive home the urgency of her need to withdraw some money from her account for her drugs. All her pleas fell on the deaf ears of bank officials who claimed to be helpless to help her. This customer may not have been a retiree but just imagine the several helpless retirees who do not have means of even getting to the bank to appeal for their own money. All they hope for is just a meal for the day!
Globally, retirees or pensionersare people whose welfare are taken into serious consideration by any government because of their inability to continue active work after years of service. Though some who do not have health challenges may continue to engage in certain light works, majority get into the period of battling one illness or the other due to progressive aging. Unfortunately for those who reduced their age and retired long after the stipulated age, there is drastic down-turn in health after final exit, having over stressed the body in struggling to keep pace with demands of job even after the age of 60, 65 or 70years as the case may be.
The pension schemes (defined or contributory) in countries like United Kingdom, United States of America and several developed countries, ensure retirees have quality living in basic but critical areas of their work free lives, such as housing, health and feeding. With these, many of them may not compulsorily depend on families for financial assistance. At the same time, their standard of living does not reduce unbearably while theystill find time togo for their usual past times or holidays.
When the Nigerian government of President OlusegunObasanjo in 2004 introduced the contributory pension scheme to replace the defined pension scheme, it was with a foremost objective of ensuring an enhanced quality living for retirees who were vulnerable.Despite this genuine intention of giving meaningful living and rest in retirement to the retirees in Nigeria, the story or their well-being is still very far from being desirable for people who labored through years of national services in whatever capacity they found themselves.
This is different from countries such as the United States of America where the employees through the pension funds, become the legal owners and suppliers of capital as well as the controlling force in the capital market. They are referred to as the true ‘’capitalists’’ because they direct the country’s capital fund. This is because they are well informed of their fund investment portfolios and participate in the management of same.
In the past four years, the general living standard in Nigeria has dropped drastically causing the young and middle aged to seek alternative means of livelihood. Several have sought and travelled in search of greener pastures to promising environments outside the economy and country. Those who are not opportune to do this yet are more concerned with feeding themselves and perhaps immediate families (spouse and children). The traditional mindset of looking after ones’ aged parents is become a thing of the past. The syndrome of everyman to himself has gradually taking rootin the familysystem that hitherto used to bubble with concern for parents, siblings and in many cases, extended family members.
Though several arguments and analysis on the effect of the naira swap have continued to flood the air, the retirees who are unarguably one of the categories greatly affected seem to have been forgotten. This may be because the pain is felt by everybody, though at different levels. Notwithstanding, one cannot but send an appeal to the powers that be who seem to be playing game of chess with the lives of Nigerians, to pause and feel the pulses of the people. The vibrant youths can muster strength through their hunger and anger to embark on protests and unfortunately carry out unnecessary destruction of banks, but the retirees who may have carried out peaceful protest one time or the other for their trickle pension payment (TPP), do not have the strength to queue on endless lines for cash withdrawal, not to talk of embarking onfruitless protests.
The government, through Pencom and the PFAs should look out for these esteemed but vulnerable citizens during critical times such as the country is going through now and offer some sort of palliatives to minimize their suffering. Above all, it is hoped that these honourable retirees will have the strong will in the midst of their present lack, to reject the temptation of exchanging their votes for minimal gratifications, rather than be tools for credible elections.
Hope Nwawolo, Ph.D