Workers of the National Assembly Service Commission (NASC) are advocating a return to the Contributory Pension Scheme (CPS), barely two years after a bill enacted at the twilight of the Muhammadu Buhari administration exempted them from the scheme.

The National Assembly Service Pensions Board (Establishment) Act, passed in April 2023, created a separate pension board for NASS personnel, effectively removing them from the CPS under the Pension Reform Act (PRA) 2014. However, while implementation of the NASS Pension Board Act has yet to begin, recent developments suggest a shift in sentiment among the Assembly’s management and staff.

The disclosure was made by the Clerk of the National Assembly, Kamoru Ogunlana, during a stakeholder engagement session on the review of the PRA 2014, organised by the House of Representatives Committee on Pensions in Abuja. Represented by an official of the Assembly, Ogunlana submitted a memorandum expressing the Service’s interest in rejoining the CPS.

Declaring the engagement open, Chairman of the House Committee on Pensions, Hussaini Jalo, highlighted the need to amend the PRA, last reviewed in 2014. He urged stakeholders to identify priority areas for reform.

The session brought together key stakeholders, including the National Pension Commission (PenCom), the Pension Transitional Arrangement Directorate (PTAD), Nigeria Employers’ Consultative Association (NECA), the Pension Fund Operators Association of Nigeria (PenOp), the Military Pensions Board, and the Nigerian Police Force.

As part of the consultation process ahead of the proposed amendment, PenCom acknowledged the need to review the PRA 2014. It noted that such a process had already commenced and recommended revisiting resolutions from previous stakeholder consultations in 2022 to address emerging concerns.

PenCom expressed support for proposed amendments aimed at improving lump-sum payouts for retirees, backing a holistic review of Sections 7(1) and (2) of the PRA 2014. It said the review was necessary to ensure a more equitable retirement framework and pledged to work closely with both the House and Senate Committees on Pensions and Establishment to ensure a smooth reform process.

A member of the House Committee on Pensions, Hon. Oluwole Oke, called for caution in amending the PRA. He stressed the importance of strengthening PenCom’s regulatory authority and reaffirmed the National Assembly’s support for reforms that would guarantee a secure and dignified retirement for Nigerian workers.

Meanwhile, the Executive Secretary of PTAD, Tolulope Odunaiya, in the agency’s submission, called for its formal recognition as a legal corporate entity in the amended Act.

In his contribution, the Chief Executive Officer of PenOp, Oguche Agudah, argued that the 10-year-old Act was overdue for review, citing major changes in the pension landscape.

He noted the review would ensure the sustainability of the pension system and economic development while also safeguarding the independence of the regulator, PenCom.

Agudah added that the amendment aims to achieve nationwide coverage, pointing out that only six states have fully complied with the CPS.

He also emphasised that pension remittances should only be made through recognised payment platforms.