NASS
Senate

By Levinus Nwabughiogu

National Assembly will be excluded from the contributory pension scheme should a bill to amend the pension reform act, 2014 to exempt its personnel and establish the National Assembly Service Pensions Board be passed into law eventually.

Already, the bill scaled through second reading at Thursday plenary.

Titled, “Bill for an Act to Amend the Pension Reform Act, 2014 to Exclude/Exempt the National Assembly Service from the Contributory Pension Scheme and Establish the National Assembly Service Pension Board; and for Related Matters (HB. 2025),” the bill was sponsored by Chairman Committee on National Planning and Economy Development, Hon. Olododo Cook.

Cook in his lead debate said the bill will create a new board saddled with the task of administering the pension’s scheme for personnel of the Service.

Cook said: “The proposed amendments provide that there is established a Pension Board (in this Bill referred to as ”the Board’) which shall be charged with the responsibility of managing payment of pensions and gratuities to all personnel of the Service. The bill shall apply to all personnel of the National Assembly service including those who had retired before the commencement of this Bill. The retirement benefits of personnel referred to in subsection (2) shall be adjusted to be commensurate with the provisions of this Bill. There shall be charged on and paid out of the Consolidated Revenue Fund of the Federation, all such sums of money as may, from time to time, be granted by the Federal Government by way of pension and gratuity in accordance with this Bill.

“The proposed legislation states that no pension or gratuity shall be granted to any personnel except on his retirement from the Service in any of the following circumstances. (a) after serving for forty (40) years or attained the age of sixty-five (65) years, whichever is earlier. (b) upon voluntary retirement after serving for not less than ten years; (c) upon compulsory retirement under the provisions of Section 5 (1) of this Bill. (d) upon compulsory retirement for the purpose of facilitating improvements in the Service, so that greater efficiency or economy may be effected.”

Commenting on the bill, the Speaker Hon. Femi Gbajabiamila said the bill when passed into the law will not remove the parliament from the aprons of the executive.

In a similar development, the House also approved a Bill to make provisions for retirement age of staff of legislative houses in Nigeria.

The House made the approval while considering the bill by Hon. Wole Oke at the Committee of the Whole.

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