National Assembly Workers Call For Return To Contributory Pension Scheme

Two years after being exempted from the Contributory Pension Scheme (CPS), staff of the National Assembly Service Commission have called for their re-enrolment.

Their appeal was made during a stakeholder engagement on Tuesday, organized by the House of Representatives Committee on Pensions in Abuja, as part of the ongoing review of the Pension Reform Act (PRA) 2014.

Clerk of the National Assembly, Kamoru Ogunlana, submitted a memorandum stating that management had reconsidered its stance, despite the enactment of the National Assembly Service Pensions Board (Establishment) Act in 2023, which created an independent pension board for Assembly staff. However, implementation of the Act is yet to begin.

Committee Chairman Hussaini Jalo said the PRA review was vital to reflect current realities and address pressing issues. He urged stakeholders to propose specific amendments.

Representatives from PenCom, PTAD, NECA, PenOp, the Military Pensions Board, and the Nigeria Police Force attended the session.

PenCom supported the review and recommended amending Section 7(1) and (2) to improve retirement benefits and lump-sum disbursements. It also pledged to collaborate with lawmakers for a smooth amendment process.

Committee member Oluwole Oke warned against rushed reforms and called for enhanced regulatory powers for PenCom, assuring that reforms would safeguard workers’ futures.

PTAD requested legal recognition as a corporate body to improve its operations. Executive Secretary Tolulope Odunaiya said such status would boost the agency’s effectiveness.

He said, “The review is for sustainability and economic development so that the pension sector operators can continue investing and also to ensure the independence of the regulator, which is the National Pension Commission.”

PenOp CEO Oguche Agudah emphasized the importance of the review for long-term sustainability and regulatory independence. He noted that only six states were fully compliant with the CPS and advocated for pension remittances through approved platforms to promote transparency and accountability.