The House of Representatives has begun the process of pulling out the National Assembly from the Contributory Pension Scheme under the administration of the National Pension Commission.
\nThe House is to create a separate body to administer matters relating to pensions for workers in the federal parliament.
\nAt the plenary, yesterday, the House passed for second reading, the legislation titled \u2018A Bill for an Act to Amend the Pension Reform Act, 2014 to Exclude\/Exempt the National Assembly Service from the Contributory Pension Scheme and Establish the National Assembly Service Pension Board.\u2019
\nChairman of the House Committee on National Planning and Economic Development, Hon Olododo Cook, who sponsored the bill, said the proposal was to exempt the personnel of the National Assembly from the Contributory Pension Scheme and to establish a National Assembly Service Pensions Board \u201cto be charged with the responsibility of administering the pension scheme for personnel of the service.\u201d
\nCook stated, \u201cThis bill is in consequence of the exit of the service from the application of the contributory pension scheme under the Pensions Reform Act, 2014.\u201d
\nThe bill seeks to amend Section 5(1)(a) of the Act by inserting the words \u2018the National Assembly service\u2019 to read thus: \u201cThe categories of persons exempted from the Contributory Pension are (a) the categories of persons mentioned in Section 291 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), members of the intelligence community and the National Assembly service personnel.\u201d
\nClause 2(1) of the bill also proposes that, \u201cThere is established a pension board which shall be charged with the responsibility of managing payment of pensions and gratuities to all personnel of the service.
\n\u201cApplication of the bill to personnel who retired before the commencement of this bill: (2) This bill shall apply to all personnel of the service, including those who had retired before the commencement of this bill. (3) The retirement benefits of personnel referred to in Subsection (2) above shall be adjusted to be commensurate with the provisions of this bill.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The House of Representatives has begun the process of pulling out the National Assembly from the Contributory Pension Scheme under the administration of the National Pension Commission. The House is to create a separate body to administer matters relating to pensions for workers in the federal parliament. At the plenary, yesterday, the House passed for […]<\/p>\n","protected":false},"author":1,"featured_media":165673,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-298259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/298259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=298259"}],"version-history":[{"count":2,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/298259\/revisions"}],"predecessor-version":[{"id":298291,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/298259\/revisions\/298291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/165673"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=298259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=298259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=298259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}