Katsina State House of Assembly has , on Wednesday, passed an executive bill for the establishment of a contributory pension scheme in the state.
The bill, presented by Gov. Aminu Masari, was passed by the assembly during its plenary, presided over by the Speaker, Alhaji Tasi’u Maigari
The News Agency of Nigeria (NAN) reports that the passage of the bill followed the presentation of the report of an ad-hoc committee, chaired by Deputy Speaker, Alhaji Shehu Dalhatu-Tafoki.
Dalhatu-Tafoki (APC-Faskari) said that the committee was named “ad-hoc committee on contributory defined benefit pension scheme.”
He explained that the bill was an embodiment of a proposal from the executive for the introduction of a new pension policy for the state.
“The presentation of the bill itself was in line with the reform of the pension system initiated by the Federal Government in 2004.
He said that, the new act has made it mandatory for states, local governments and private sectors to adopt and implement the contributory scheme for their employees.
He added that the only significant difference between the new pension scheme and the current system was the size of contribution which an employee was required to make under the new scheme.