Retirement security starts while working, not at exit — NSITF boss …As NSITF coverage hits 7.8m workers, claims turnaround drops to 10 days

"While individuals have a responsibility to plan for retirement, such planning cannot replace the responsibilities of government, employers and institutions in providing effective social protection." Faleye

The Managing Director/Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, has said retirement security must be built during a worker’s active years rather than at the point of retirement.

Faleye stated this on Thursday while presenting the NSITF’s position at the Policy Dialogue session of the 2026 National Pre-Retirement Summit held at the Shehu Musa Yar’Adua Centre, Abuja.

The summit, themed, “Own Your Retirement: From Planning to Action,” featured a policy session titled, “Between Duty and Delivery.”

Faleye said while individuals have a responsibility to plan for retirement, such planning cannot replace the responsibilities of government, employers and institutions in providing effective social protection.

“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.

According to him, pensions and personal savings, though indispensable, do not constitute the entire retirement security framework, stressing that a worker who remains healthy, productive and protected has a different pathway into old age from one who suffers disabling injury or premature death without adequate protection.

He explained that the Employees’ Compensation Scheme (ECS), administered by the NSITF, forms part of the country’s social protection and retirement continuum by protecting workers against employment-related injuries, occupational diseases, disability and death.

He added that the scheme provides compensation, survivor protection, medical care, rehabilitation and return-to-work support.

On coverage, Faleye disclosed that more than 7.6 million workers were enrolled under the ECS as of July 2026, with the figure now rising to over 7.8 million workers.

He said the Fund was moving beyond isolated registration exercises towards sustained participation and compliance through partnerships with Federal institutions, state governments, regulators, employers and organisations within the informal economy.

The NSITF boss described the onboarding of Treasury-funded Federal Ministries, Departments and Agencies as a major development, revealing that claims payments commenced less than four months after the integration process began.

“The first batch of five Treasury-funded MDA beneficiaries was paid on 4 August 2026. This is turning Federal Civil Service protection into a lived reality,” he said.

Faleye stressed that registration alone does not amount to protection, noting that effective compliance must connect registration and assessment with contributions, accurate worker information, claims processing and timely payment of benefits.

He also emphasised the need to keep families and dependants at the centre of social protection, particularly where a worker dies from an employment-related incident.

“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.

On workplace safety, Faleye said the NSITF’s occupational safety and health interventions, including workplace inspections, accident investigations and safety advocacy, were designed to prevent workplace accidents, while healthcare and rehabilitation programmes help preserve workers’ dignity and earning capacity.

He urged workers to plan for retirement and understand their entitlements but warned that individuals cannot personally insure against employer non-compliance or create a claims administration system.

He said the responsibility should therefore be shared among the government, institutions, employers and workers.

“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 stated.

Faleye identified five key positions of the NSITF: that retirement security begins during working life; coverage must translate into effective protection and not merely registration; prevention and compensation must work together; families and dependants must remain part of protection design; and individual ownership complements, but does not replace, public and employer responsibilities.

“Between duty and delivery is where trust is won. For the Nigerian worker, social protection must be more than a statutory promise on paper. It must be felt when a worker is injured, when a family loses a breadwinner, when rehabilitation is needed, and when a worker approaches retirement,” he said.

He further disclosed that the average claims turnaround time had improved from 14 days to 10 days, adding that the Fund’s next priority was to deepen coverage, strengthen compliance and improve institutional coordination.

“A worker can plan for retirement only when the system is credible enough to plan with,” Faleye concluded.

The summit was attended by the Minister of Labour and Employment, Chairman of the National Pension Commission (PenCom), President of the Nigeria Labour Congress (NLC), Director-General of the Bureau of Public Service Reforms (BPSR), Director-General of the National Senior Citizens Centre (NSCC), among other stakeholders.

Pictures at the event