Bill To Amend NASS Pension Board Act Passes Second Reading In Senate

The Senate passed for second reading a bill seeking to amend the National Assembly Service Pension Board Act yesterday.

This followed the presentation of the general principles of the bill by the Senate Leader, Senator Opeyemi Bamidele (APC–Ekiti).

In his lead debate, Bamidele said the bill was first read on May 28, 2024.

He explained that the proposed legislation seeks to amend the National Assembly Service Pension Board Act, revert to the Contributory Pension Scheme (CPS), reconstitute the membership of the board, and provide templates for the payment of gratuities.

According to him, the bill also seeks to establish a fund for the scheme, noting that the proposed amendment aims to provide a workable and pragmatic pension framework for National Assembly staff.

He noted that the existing Act had raised critical concerns regarding its implementation and that the proposed amendment would address all inherent shortcomings.

Bamidele stated that the amendment was intended to restructure the governance framework of the board and reintroduce the CPS for pension administration for National Assembly staff.

He added that the amendment would also ensure the payment of gratuities in line with the federal government’s policy on pension administration.

The lawmaker lamented that the absence of the proposed framework in the current Act has adversely affected National Assembly staff who retired since 2023, as the board has yet to access the necessary funds.

He attributed this to lingering issues that have hindered the effective implementation of the existing Act.

Highlighting the key objectives of the bill, Bamidele said it seeks to revert to the contributory pension scheme to ensure a transparent and accountable system, reintroduce gratuity payments that fairly compensate retirees, and restructure the composition of the board to eliminate potential conflicts of interest and enhance governance.

“This bill is principally focused on creating a sustainable, efficient, and equitable pension system that serves the interests of both current and retired staff of the National Assembly.

“This is important because the welfare of the staff of the National Assembly should be a matter of priority to us as legislators.

“These bureaucrats are the engine room behind our core legislative duties. Therefore, their welfare, particularly as it relates to their rights and entitlements, is paramount and must be given the attention it deserves,” he said.

Bamidele urged his colleagues to support the bill at second reading.

President of the Senate, Godswill Akpabio, after the bill was read a second time, referred it to the Committee on Establishment for further legislative action, with a directive to report back in four weeks.

Akpabio described the bill as one that would benefit National Assembly staff and urged lawmakers to be circumspect in their consideration of the proposal at the public hearing, in the overall interest of the staff.

He also called for input from all stakeholders, including staff associations, during the process.