Workers Encouraged to Plan a Happy Retirement by Using Multiple Savings Options

Ebere Nwoji

Leaders in the insurance and pension sectors have urged Nigerian workers to take advantage of savings‑related insurance products and the revamped Pension Revolution 2.0 system, encouraging them to plan for a dignified retirement through the various available savings channels.

The message was delivered by the Commissioner for Insurance, Mr. Olusegun Omosehin, and the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, at the 2026 Inspenonline Retirement Summit held in Lagos.

Represented by Dr. Julius Odidi, Head of the NAICOM Lagos Control Office, Omosehin called on workers to use insurance instruments to secure a stable retirement.

Ms. Oloworaran, represented by Mr. Ibrahim Buwai, Head of Corporate Communications at PenCom, highlighted how PenCom’s Pension Revolution 2.0 initiative has modernised pension administration in Nigeria, enabling workers to access pension plans regardless of their chosen career path.

She added that the recently rebranded Micro Pension Plan (MPP) has been repositioned to provide a more robust, accessible, and secure long‑term financial safety net for self‑employed Nigerians and informal sector workers.

Chairman of STI Leasing Limited, Mr. Tom Ogboi, praised the summit organisers and urged greater awareness of how workers can enjoy a comfortable post‑retirement life.

Ogboi shared that he retired in 2002 and has been able to pursue his interests thanks to strategic planning.

Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, expressed concern over the current situation of retirees in Nigeria, noting that many former workers who devoted their careers to service are suffering from systemic failures and a lack of retirement awareness.