A’Ibom Assembly Passes Contributory Pension Bill

The Akwa Ibom House of Assembly has passed the bill for establishing a contributory pension scheme for employees in the public service.

The Speaker of the House, Mr Samuel Ikon, made this  known on Tuesday, saying that the scheme would be jointly funded by the employees and their employers.

Ikon said that the bill would ensure that every person ,who had worked in the public service of the state, received retirement benefits promptly.

He said the scheme would assist improvident individuals to save for their old age.

The bill would also establish a uniform set of rules and regulations for the administration and payment of retirement benefits in the state.

Earlier, the Chairman of the House Committee on Labour and Productivity, Mr Ayang Akanimo presented the report of the committee to the house for consideration.

The house dissolved into the committee of the whole and considered the bill clause by clause.

The Deputy House Leader, Mrs Ekaete Okon, moved the motion that the house as a committee of the whole adopt the report and that the bill be read for the third time and passed.

The motion was seconded by the Deputy Speaker, Mr Udo Kierian.

The Speaker said that the commencement date of the law would be June 12 and directed the Acting Clerk, Mrs Mandu Umoren, to send the clean copy of the bill to the governor for his assent.

The house adjourned its sitting to Thursday June 14.