The pensioners, who protested under the umbrella of Abia Concerned Pensioners, released a statement signed by its chairman, Amaugo Daniel and secretary, Okezie Emeka.
The amounts are hardly trivial. According to the latest projections by Social Security’s actuaries, the uncovered gap between the program’s costs and revenues comes to $13.9 trillion over the next 75 years, or 2.78 percent of covered wages.
Baroness Altmann, who was pensions minister from 2015 to 2016, told FTAdviser: “The promotion of the advice allowance has almost been non-existent.
Ultimately, what we do is incredibly personal – we help people structure the retirements they want, and save money for their kids.
Speaking to PP at the Longevity 15 conference in Washington last week, Prudential Retirement senior vice-president and head of longevity risk transfer Amy Kessler said schemes have experienced a "perfect" environment for de-risking.
Explanations range from the loss of traditionally ‘male’ jobs to diminishing returns to unskilled labour, the competing appeal of computer gaming and the role of women, parents and the government in supporting male incomes.
The key to a successful retirement from here is understanding what your outgoings will be once you finish working, at what age you plan to retire and what level of savings you, therefore, need to put away to make that provision.