On Thursday, October 20, 2026, the House of Representatives passed key legislative amendments designed to overhaul pension administration and enhance financial security for National Assembly Service personnel.
The legislation, HB. 2240, titled “A Bill for an Act to Amend the National Assembly Service Pension Board Act, No. 62, 2023, to among other things, Reconstitute the Membership of the Board, provide the Template for Payment of Gratuity and Establish a Fund for the Scheme and for Related Matters,” officially scaled its Third Reading and was passed on the floor of the House..
Sponsored by House Leader Hon. Julius Ihonvbere, the amendment bill aims to restructure the National Assembly Service Pension Board while standardising gratuity calculations for retiring staff. Additionally, it creates a dedicated, safeguard-protected fund to insulate the pension scheme from budget deficits and enhance operational accountability.
This bill represents a critical step toward providing long-term financial security and institutional fairness for the dedicated staff of the National Assembly Service. By restructuring the pension board and securing a dedicated funding framework, we are establishing a transparent, reliable, and sustainable retirement system.
