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Chuks Udo Okonta
Barely two years after being exempted from the Contributory Pension Scheme (CPS) by legislation passed during the final months of the Buhari administration, workers of the National Assembly Service Commission (NASS) are advocating a return to the scheme.
This was disclosed by Kamoru Ogunlana, Clerk of the National Assembly, during a stakeholder engagement on the review of the Pension Reform Act (PRA) 2014, organised by the House of Representatives Committee on Pensions in Abuja.
Represented by a senior official, Ogunlana confirmed that the Service has formally submitted a memorandum to the Committee indicating its interest in rejoining the CPS.
The move comes despite the enactment of the National Assembly Service Pensions Board (Establishment) Act in April 2023, which had created a separate pension framework for NASS staff, removing them from the CPS governed by the PRA 2014.
However, with the implementation of the NASS Pension Board yet to commence, there appears to be a growing shift in sentiment among staff and management in favor of rejoining the federal contributory scheme.
Opening the session, Hussaini Jalo, Chairman of the House Committee on Pensions, highlighted the urgent need to amend the PRA 2014 to reflect current realities. He urged all stakeholders to identify areas for potential reform and assured them of the Committee’s commitment to an inclusive and accelerated review process.
The consultative meeting brought together a broad range of stakeholders, including the National Pension Commission (PenCom), the Pension Transitional Arrangement Directorate (PTAD), the Nigeria Employers’ Consultative Association (NECA), the Pension Fund Operators Association of Nigeria (PenOp), the Military Pensions Board, and the Nigerian Police Force.
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Manhunt begins for seven escaped inmates from Osun prison PenCom, in its memorandum, supported the ongoing review and recommended a revisit of resolutions from stakeholder engagements held in 2022. The Commission also backed proposed amendments to improve lump sum payouts to retirees, particularly a comprehensive review of Section 7(1) and (2) of the PRA 2014, aimed at ensuring a more equitable retirement benefits system.
Tolulope Odunaiya, Executive Secretary of PTAD, used the platform to advocate for the Directorate’s legal recognition as a corporate entity in the amended Act.
In his remarks, Oluwole Oke, a member of the House Committee on Pensions, advised caution in amending the law. He stressed the importance of maintaining PenCom’s regulatory strength while working towards reforms that uphold dignity and security for all Nigerian retirees.
Oguche Agudah, PenOp CEO also made a strong case for the Act’s review, citing its over 10-year lifespan and the need for alignment with evolving economic and pension realities. He emphasized the importance of sustainability, investment growth, expanded coverage, and the independence of the pension regulator.
Agudah noted that only six states have achieved full CPS coverage and called for mandatory remittances to be made exclusively through recognized payment platforms to improve transparency and compliance.
“The review is for sustainability and economic development so that the pension sector operators can continue investing and also to ensure the independence of regulator which is the National Pension Commission.
“Ensuring nationwide coverage and growth. as Only six states have total coverage,”
