The Senate, on Tuesday, passed for second reading a bill seeking to reform the pension scheme for National Assembly members by reverting to a contributory pension system.
The fundamental objective of the legislative proposal is to amend the National Assembly Service Pension Board Act, No. 62, 2023.
The Leader of the Senate, Senator Opeyemi Bamidele, who sponsored the bill, while presenting it on the floor of the Senate, emphasized the need to overhaul the existing pension framework to ensure sustainability and fairness for National Assembly personnel.
Supporting the bill, the Deputy President of the Senate, Senator Barau Jibrin, and Senator Tahir Monguno, Senate Whip, highlighted the importance and timely nature of the legislation.
They noted that the bill would create a more viable pension system aligned with best practices, ultimately benefiting National Assembly workers.
When no objections were raised by other Senators, the bill was referred to the Committee on Establishment and Public Service for further scrutiny and is expected to report back within four weeks.
The President of the Senate, Senator Godswill Akpabio, while commenting on the bill, also expressed support for the legislative move, signaling a commitment to pension reform in the legislative arm of government.
