The Nigerian Labour Congress (NLC) has called for an increase in the Retirement Savings Account (RSA) withdrawal limit from 25 to 50 percent.
NLC President, Comrade Joe Ajaero, made the demand during a roundtable meeting with the management of the National Pension Commission (PenCom) in Abuja on Thursday.
The event, themed “Consolidating the Gains of the Contributory Pension Scheme through Collaboration with Social Partners,” focused on strengthening Nigeria’s pension system.
Ajaero said the proposed increase would enable workers to meet pressing financial needs, including investments in agriculture, education, and healthcare, amid current economic hardship.
He also criticised the incomplete constitution of the PenCom Governing Board, warning that the absence of a full board undermines accountability and governance.
The NLC further urged PenCom to leverage technology to speed up pension processing, ensuring retirees receive their benefits within weeks instead of months.
It also called for a standing NLC–PenCom committee to address workers’ grievances and tougher sanctions against defaulting Pension Fund Administrators and employers.
