The Senate on Tuesday passed for second reading a bill to amend the National Assembly Service Pension Board Act, aiming to restructure the pension framework for legislative staff.
Presenting the general principles of the bill, Senate Leader Opeyemi Bamidele (APC-Ekiti) said the proposed amendment seeks to revert the current scheme to the Contributory Pension Scheme (CPS), restructure the board’s governance, reintroduce gratuity payments, and create a fund for the scheme’s sustainability.
Bamidele noted that the existing Act has faced implementation challenges, leaving many retired National Assembly staff without access to their benefits since 2023.
“This bill is about fairness, efficiency, and sustainability,” he said. “It seeks to ensure a transparent pension system and fairly compensate retirees while eliminating potential governance conflicts.”
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He emphasized the need to prioritize staff welfare, describing them as the engine room of the legislature.
Senate President Godswill Akpabio, in his remarks, referred the bill to the Senate Committee on Establishment for further legislative work, directing the committee to report back within four weeks.
Akpabio urged lawmakers to be circumspect during the public hearing, stressing the importance of stakeholder engagement, especially from NASS staff and their associations.