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By Muftau Tukuru, a pension expert working with one of the leading PFAs in Nigeria and with years of experience in dealing with pension-related matters.

Retirement is a journey and not a destination. Also, the process of retirement is more important than the goal. This is why I will be giving you the following advice so that you will avoid pitfalls that could cost you a fortune and also avoid delays.

I pray that you take my advice seriously to avoid non-payment, non-remittance, under-remittance, and wrong capturing.

  • Visit your PFA, ask for your Comprehensive RSA Statement, Sit down with it and study it for any anomaly or discrepancy.
  • Still with your PFA, tell them you want to do your Data Re-capturing/Update. This is needed to properly align your data with PenCom and prepare you for verification. No data update, no verification. No verification, no pension payment.
  • Make sure that your name with your PFA and your date of birth are correct. For instance: Tukuru Alori Lawal is not the same as Lawal Alori Tukuru (Principles of first name and last name).
  • If the name on your NIMC and the one with your PFA is incorrect, you will find it difficult undergoing verification. The earlier you start this check and confirmation, the better.

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  • Don’t think you have a year more. You are already out of the system. According to the psychology of retirement, from ages 35 to 45, that is your pre-retirement stage. From ages 46 to 55, that is your exact retirement stage. And from ages 46 to 60, YOU ARE ALREADY RETIRED. In fact, if you hold an exhalted position, someone is already lobbying for it while you think you are still there. They can’t wait for you to go even as they laugh with you everyday, they are counting down for you.
  • If you do not have a Plan “B”, start thinking now of what you will do when you retire. You have to still be engaged so that you do not grow old too quickly even if it is taking cake of your grandchildren, as long as it gives you satisfaction.
  • Read more about life after retirement, and choose the best that suits you.
  • Let your children and family know that you are retired already so that you can concentrate on yourself. If you have a child that is 30 years and above that you are still supporting, advice them to go and learn a trade to be economically viable. If not they will eat deep into your pension as if you worked and suffered together.

Muftau Tukuru is a pension expert with years of experience in dealing with pension and related matters.

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