News Investigators/ The Nigeria Social Insurance Trust Fund (NSITF) says retirement security should begin during workers’ active years, stressing that individual planning cannot replace institutional responsibility for workers’ protection.
Oluwaseun Faleye, Managing Director of NSITF, said this on Thursday in Abuja at the 2026 National Pre-Retirement Summit.
The summit, themed “Own Your Retirement: From Planning to Action”, featured a policy dialogue on “Between Duty and Delivery”, focusing on effective social protection for Nigerian workers.
Mr Faleye said retirement security depended on workplace safety, protection of earning capacity, compensation for occupational injuries and adequate support for workers and their families.
“When we speak about retirement, we must begin much earlier than the point at which work ends.
“Retirement security is shaped during working life – by occupational risks, health, protection of earning capacity, compensation when harm occurs, and what happens to families when a breadwinner is lost,”he said.
He explained that the Employees’ Compensation Scheme (ECS) provided compensation for occupational injuries, diseases, disability and death, alongside medical care, rehabilitation and support for affected workers.
Mr Faleye said that NSITF had enrolled over 7.8 million workers under the scheme, up from 7.6 million in July 2026, while reducing average claims processing time.
He said the Fund had reduced average claims turnaround from 14 to 10 days, demonstrating its commitment to faster compensation and improved service delivery.
”The first batch of five Treasury-funded MDA beneficiaries was paid on Aug. 4, 2026. This is turning Federal Civil Service protection into a lived reality,” he said.
Mr Faleye said that registration alone did not guarantee protection, urging employers to ensure compliance through regular contributions, accurate worker documentation and timely payment of benefits.
“The system must be visible at the point of vulnerability. Claims administration, documentation, communication and inter-agency referrals should be designed around the beneficiary’s experience, with compassion, clarity and timely resolution,” he said.
He said NSITF would strengthen workplace inspections, accident investigations, safety advocacy and rehabilitation programmes to prevent occupational hazards and protect workers’ health and earning capacity.
According to him, the right balance is shared responsibility.
“The State builds and regulates the architecture; institutions deliver within their mandates; employers comply and maintain safe workplaces; and workers understand, use and participate actively in the protections available to them,”he said.
Mr Faleye said that the Fund was committed to expanding coverage, strengthening compliance and improving institutional coordination, insisting that retirement security must translate into tangible protection for workers and their dependants.
NAN