Haruna Iddrisu advocates pension safeguards for university staff

Minister for Education, Haruna Iddrisu, has called for stronger pension safeguards for university staff, urging reforms to protect retirement income and improve investment of pension funds.

He made the call during a meeting with Vice Chancellors at the Ministry of Education, where discussions centred on staff welfare, pension management, fees, and the financial pressures facing tertiary institutions.

The minister said safeguarding post-retirement security must be treated as a priority alongside broader education reforms.

“For pension funds, we need to take a collective decision on what role the National Pensions Regulatory Authority can play,” Mr Iddrisu said.

He added that the government is considering legislative improvements to strengthen standards and oversight.

“By legislation, we can improve standards in order that we can safeguard the post-income security and retirement of your members,” he stated.

According to the minister, pension reforms should also enable universities to invest funds in a manner that benefits both staff and institutions.

He said current arrangements do not always allow for “meaningful and beneficial investment into your fund,” limiting long-term value for contributors.

Mr Iddrisu stressed that any changes would be developed through consultation with university authorities and relevant regulators to ensure transparency and confidence in the system.

He said the objective is to strike a balance between protection, sustainability, and prudent investment.

Beyond pensions, the minister proposed the creation of an annual committee to review university fees in a structured manner. He said the committee could be chaired at the deputy minister level and include representatives from university management, the tertiary education directorate and students.

“We should have your representative and also a representative of the students, whether at the level of NUGS or SRC, so that we can dialogue on necessary adjustments if required,” he said. Mr Iddrisu acknowledged that fee reviews are often contentious but argued that a predictable process would reduce conflict.

He also raised concerns about the high cost of utilities on campuses, describing water and electricity bills as a major challenge for both universities and the government.

The minister said a clear roadmap is needed to help institutions continue to bear these costs without compromising academic delivery.