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Retirement Just Ahead!

March 13, 2020by admin1

One of the greatest challenges facing typical employees throughout their working life is ‘life after retirement’. Some of the challenges that come with retirement include emotional, psychological and financial challenges. To such challenges, the workers have to prepare well ahead of time. Also, retirement happens at old age, leveraging on reduced strength and health of the previously agile and healthy worker. It is however saddening that most workers do not plan ahead of their retirement and therefore live with guilt for the rest of their lives, blaming themselves for short-sighted vision. Unfortunately, the public sector pension schemes have today been faced with many failure and the workers have to set aside some money from their income through contributory pension scheme to invest for their retirement from service.

Although, Egbuta (1991) described retirement as the withdrawal of the individual from gainful employment in the later part of his or her life in order to enjoy a period of leisure till death, most workers do not enjoy any ‘period of leisure’ after their retirement. In a report by Kolawole and Mullum (2004), the typical retiree in Nigeria is confronted with the challenge of managing insufficient financial resources, problem of securing residential accommodation, the challenge of a new and low social status, difficult health and challenges of declining health. The main cause of these problems as listed by Yunusa (2013) include

  • Non-payment of Gratuities and delays in the payment of pension.
  • Non-review of pensioners’ allowances as provided for in the 1999 constitution of the Federal Republic of Nigeria.
  • The non-recognition of retirees by government in the schemes of development programmes.
  • Lack of preparation for retirement.

At Aquatic Hub Afrique Network,

  • We are not insensitive to the troubles and pains of our esteemed retirees who have spent a greater portion of their productive life in national service.
  • We also observed that most retirees either lost their gratuity while attempting a business they are not good in or were duped by advanced fee fraudstars.
  • We are focused on liberating Africa from the shackles of poverty and hunger through capacity building in aquaculture
  • Thus, our Institute has set up series of flexible training in aquaculture and fish farming for workers in-service and the retirees.
  • To this effect, we offer technical training to fish farmers on the basics of fish farming, consumer awareness, sustainable fish feed production, breeding disease-resistant and fast growing fingerlings, fish processing, packaging and marketing among others.
  • We offer the best in-class training facilities, curriculum as well as entrepreneurial and risk management insight to aquaculture as well as hands-on farm practical training.
  • We train workers in-service and encourage them to start the aquaculture and fish farming business while in service.
  • Hence, some of our trainees retired voluntarily from service to face their aquaculture business while other see retirement as an opportunity to face their already running aquaculture business with little or no disturbances.
  • This way, our institute projects to train and establish two thousand (2,000) in-service workers and retirees respectively per annum.

Citations and further readings

Egbuta I. C. (1991). Thinking of Your Retirement, A Guidance in Retirement Planning, Ages, Nigeria Limited.

Kolawole S.A. and Mallum, A.Y. (2004). Retirement counseling: Challenges, opportunities and coping strategies. Paper presented at the Annual Conference of the Counselling Association of Nigeria (CASSON), Maiduguri, Nigeria.

Yunusa, A.I. (2013). Retirement challenges and management strategies among retired civil servants in Kogi state. International Journal of Social Sciences and Humanities Reviews, 4(1): 53 – 66


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  • Mr WordPress

    June 18, 2010 at 8:51 pm

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