National Assembly Service Pension Board Act (Amendment) Bill

A Bill amends the governance and benefit structures of the National Assembly Service Pension Board. It updates contribution rates and administrative procedures for all National Assembly staff. The amendment aims to align the pension scheme with modern standards and improve staff retirement security.

National Assembly Service Pension Board Act (Amendment) Bill Policy Overview

What Is This Policy?

An amendment bill to update the governance, contribution rates, benefit structures, and administrative procedures of the National Assembly Service Pension Board to align with current pension reform standards and ensure better retirement security for National Assembly staff.

Who Does It Target?

Staff of the National Assembly Secretariat (all cadres) Retired National Assembly employees National Assembly Service Commission Pension Fund Administrators (PFAs) managing NASB funds

What Does It Aim to Achieve?

Align NASB operations with the Contributory Pension Scheme under PRA 2014 Improve the welfare and retirement benefits of National Assembly employees Strengthen governance and reduce administrative inefficiencies in the board Ensure prompt and transparent payment of pension benefits

Key Features

Current Status

Funding: Contributory: employer (National Assembly) and employee contributions; investment returns

How to Access

Eligible staff automatically enrolled; pension claims filed through the National Assembly Service Commission HR department. Requirements: Active or retired National Assembly Secretariat staff Completed minimum years of service Submission of retirement/disengagement documents Application method: HR department of the National Assembly Commission; NASB office

Important Terms

Monthly deductions from salary for active staff (contribution rate per PRA 2014) Benefits calculated based on years of service and final salary Lump sum and monthly annuity options available on retirement

Official Resources

Website: www.nassbng.gov.ng Contact: National Assembly Service Commission — [email protected] Federal Republic of Nigeria — Policy Summary Document | March 2026

Legal Framework

The National Assembly Service Pension Board Act (Amendment) Bill would operate under the Pension Reform Act 2014, the National Assembly Service Act, and the Public Service Rules. It aligns with the National Pension Commission (PENCOM) regulatory guidelines, the Financial Regulations, and the Fiscal Responsibility Act 2007. The Constitution of the Federal Republic of Nigeria (Third Schedule) provides the basis for the National Assembly Service Commission.