Senate Moves to Bring National Assembly Staff Back into CPS with Amendment Bill

Staff of the National Assembly are seeking to return to the Contributory Pension Scheme (CPS) after nearly two years outside the system, following the Senate’s recent passage of a bill for second reading aimed at amending the National Assembly Service Pension Act.

The bill, introduced by Senate Leader Sen. Opeyemi Bamidele (APC-Ekiti), was first read on May 28, 2024. It proposes key changes, including reverting National Assembly staff to the CPS and reconstituting the membership of the National Assembly Service Pension Board to improve governance and oversight.

Sen. Bamidele emphasized that the legislation is designed to align the pension administration of the National Assembly with national standards by ensuring staff reintegration into the CPS and strengthening the pension board’s structure.

The National Assembly staff had exited the CPS almost two years ago, raising concerns about pension security and transparency. Their current push to rejoin reflects a desire to benefit from the CPS’s regulated framework.

The CPS, established under the Pension Reform Act 2004 and updated in 2014, requires contributions from both employees and employers and is regulated by the National Pension Commission (PenCom). It is credited with improving retirement security for millions of Nigerians.

PenCom’s Executive Secretary, Mrs. Aisha Dahir-Umar, expressed support for the bill, noting that reintegrating National Assembly staff into the CPS would enhance pension security and foster uniformity across the public sector.

Similarly, Hon. Hussaini Jallo, Chairman of the House Committee on Pensions, welcomed the amendment, describing it as a necessary step to correct inconsistencies and ensure fair treatment of all public employees.

Labour unions and pension advocacy groups have also praised the Senate’s action, urging swift passage of the bill to protect the retirement benefits of National Assembly staff.

The bill will proceed through further readings and debate before final approval. Its passage is expected to mark a significant milestone in harmonizing Nigeria’s pension system and reaffirming the government’s commitment to transparency and sustainability in pension management.