The Senate on Tuesday passed, for second reading, a bill to amend the National Assembly Service Pension Act.
This followed the presentation of the general principles of the bill by the Senate Leader, Senator Opeyemi Bamidele (APC–Ekiti).
In his lead debate, Senator Bamidele stated that the bill had been read for the first time on 28 May 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 establish templates for the payment of gratuities.
According to him, the bill also aims to create a dedicated fund for the scheme, with the objective of providing a practical and effective pension framework for staff members of the National Assembly.
Bamidele noted that the current act had given rise to significant concerns regarding its implementation, and the amendment was intended to address its inherent shortcomings.
He emphasised that the proposed changes were designed to reform the board’s governance structure and reintroduce the CPS for pension administration concerning National Assembly staff.
He added that the amendment would also facilitate the payment of gratuities in accordance with the Federal Government’s pension policy.
According to him, the absence of a clear framework in the existing act had adversely impacted staff who retired from service since 2023, as the board had not yet been able to access the necessary funds.
This situation, he explained, was due to persistent issues surrounding the implementation of the current legislation.
He further highlighted that a key objective of the bill is to ensure a transparent and accountable system by reverting to the contributory pension scheme and reinstating gratuity payments as a fair form of compensation for retirees.
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The bill, he said, also seeks to restructure the composition of the board to eliminate potential conflicts of interest and improve governance and service delivery.
Bamidele stressed that the bill is primarily focused on establishing a sustainable, efficient, and equitable pension system that caters to both current and retired staff of the National Assembly.
“This is crucial because the welfare of National Assembly staff must be a priority for us as legislators. These bureaucrats are the engine room of our core legislative functions.
“Therefore, their welfare, particularly in relation to their rights and entitlements, is of utmost importance and must receive the necessary attention,” he said.
The senator appealed to his colleagues to support the bill at its second reading.
Following the second reading, Senate President Godswill Akpabio referred the bill to the Committee on Establishment for further legislative consideration, with instructions to report back within four weeks.
Akpabio, noting that the bill is for the benefit of National Assembly staff, urged senators to exercise due diligence during the public hearing stage, in the interest of the entire workforce of the Assembly.
He also called for input from all stakeholders, including members of staff through their respective associations.
