Why Pension Reform Act 2004 needs amendment - PenCom
Continues from last edition The Commission submits that the National Assembly should de-emphasis the issue of qualifying years of experience and adopt the model of the CBN Act where no requirement of specific years of post-qualification experience is stipulated by the CBN Act. This is the position that is consistent with global best practice which emphasizes competency rather than years of post-qualification experience, which does not necessarily translate into capacity and capability. b) Staffing and Funding of PTAD (Ss. 42 – 49 of the Bill): The Bill does not provide for the staffing and funding for the FGN and FCT PTADs. Consequently, it is recommended that additional provisions should be inserted to empower the PTADs to employ their staff and make provision for their sources of funding, which should primarily be from Government subvention. c) Re-admission after recertification of medical fitness (S.16(3) of the Bill): The re-integration of persons certified by a medical bo...