Nigeria. The Senate and the risky politics of pension
There is an ongoing debate on reforming pensions, yet again, in Nigeria. Since 2004, Nigeria has largely adopted the contributory pension scheme. But as years go by, this system has continued to be gradually chipped away.
One of the currently debated bills, which is making its way into an Act, seeks to amend the 2014 Pension Reform Act to exclude the following members from the contributory pension scheme: the Nigeria Police Force, the Nigerian Security and Civil Defence Corps, the Nigeria Customs Service, the Nigerian Prison Service, Nigerian Immigration Service, and the Economic and Financial Crimes Commission.
This debate builds on the precedence that the military and the Department of State Services – in particular – and some other organisations have, in the last few years, been exempted from the contributory pension scheme.
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