Strat.1 To enact pension laws that promotes and protects pension rights and improve the well- being of retirees and their families.
Specific Legislative Actions
Strat.1 The 10th Senate is advancing key reforms aimed at strengthening Pension laws in Nigeria through these legislative actions:
1. SB. 361: Pension Reform Act (Amendment) Bill, 2024
Sponsor: Sen. Wammako, Magatarkada Aliyu (First Reading (Thursday, 22/02/2024))
2. SB. 361 (Duplicate Bill Number): Pension Reform Act (Amendment) Bill, 2024
Sponsor: Sen. Alli, Sharafadeen Abiodun (Passed First Reading (Thursday, 07/03/2024)
3. SB. 294: Police Pension Board (Establishment) Bill, 2024
Sponsor: Sen. Yaroe, Binos Dauda (At Committee stage: Police Affairs) 4. Approval of annual budget (https://nass.gov.ng/documents/billdownload/11177.pdf).
4. The Senate also passed for First reading the Pension Reform Act (Amendment) Bill, 2025 (SB. 777) on the 14th May, 2025; The bills was sponsored by Sen. Cyril, Oluwole Fasuyi (Ekiti North).
5. A Bill for an Act to Amend the National Assembly Service Pension Board Act, No. 62, 2023, to among others revert to the contributory pension scheme, reconstitute the membership of the Board, provide the template for payment of gratuity and establish a fund for the scheme and for related matters, 2025 (SB. 463) passed second reading on the 20th May, 2025. The bill was sponsored Sen. Bamidele, Michael Opeyemi (Ekiti Central-Senate Leader).
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