The Management of the Nigeria Social Insurance Trust Fund (NSITF) has explained that ongoing verification of pensioners is responsible for the delay in implementing increases in their pensions.

Managing Director of the Fund, Barrister Oluwaseun Faleye, disclosed this while hosting the Pensioners’ Executive Committee at the Fund’s corporate headquarters in Abuja.

He appealed to the pensioners to grant the Fund more time to complete the process.

Faleye, represented by the Executive Director of Finance, Samuel Olufemi, revealed that some pensioners currently on the payroll were close to 100 years old, underscoring the need for proper verification.

“The Managing Director met a lot of issues on ground upon assuming office last year, but the one that gives him sleepless nights is pension. He wants to implement the increment, but he wants to do it right,” Olufemi said.

He explained that past verification exercises had been capital intensive, requiring officials to travel widely, with many pensioners unable to attend due to health or mobility challenges. He added that management was now working on a more efficient and cost-effective verification method.

During the meeting, the pensioners’ executive presented their demands, including the immediate implementation of the pension increment, enforcement of a court judgment on the issue, inclusion of pensioners in the National Health Insurance Scheme, and the revival of the Pension Fund Board of Trustees.

Reassuring the pensioners, Olufemi said:

“The MD is a visionary person. Staff welfare, including that of ex-staff, is very critical to him. You will not be shortchanged.”

Chairman of the NSITF Pensioners, Aliyu Danlami, commended the Faleye-led management team for the ongoing transformation of the Fund, while urging urgent action on their demands.