Passage of Bill To Exempt National Assembly Staff From CPS Sets Dangerous Precedent — PenOp

The Pension Fund Operators Association of Nigeria has said that the passage of the bill
to exempt the staff of the  National Assembly
from the Contributory Pension Scheme
18 years after operating the  scheme sets a dangerous precedent for Nigerian workers.
PenOp is the umbrella body for all Pension Fund Administrators and Pension Fund Companies. PenOp reacted in a statement titled, ‘Exemption of the National Assembly staff from the Contributory Pension Scheme – Matters arising’. The statement was to draw the attention of the public to the “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; and for Related Matters (HB 2025)” which was recently passed by both chambers of the National Assembly. It stated, “PenOp wishes to state unequivocally that the passage of this bill sets a dangerous precedent that will not augur well for hardworking Nigerians, working across the private and public sector, who depend on the Contributory Pension Scheme for retirement security and stability.