STATUTORY CORPORATIONS PENSIONABLE OFFICERS (RETIRING AGE LIMIT) ACT
CENTER FOR LAWS OF NIGERIA: FEDERAL LAWS
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LAWS OF THE FEDERATION OF NIGERIA
STATUTORY CORPORATIONS PENSIONABLE OFFICERS (RETIRING AGE LIMIT) ACT
ARRANGEMENT OF SECTIONS
- Age limit for all statutory corporations pensionable officers, etc.
- Power to extend services from year to year.
- Interpretation.
- Application.
- Short title.
STATUTORY CORPORATIONS PENSIONABLE OFFICERS (RETIRING AGE LIMIT) ACT
An Act to provide for the retiring age of officers of statutory corporations subject to extension from year to year by the relevant authority.
[24th May, 19727] [Commencement.]
- Age limit for all statutory corporations pensionable officers, etc.
(1) The retiring age limit for all pensionable officers of statutory corporations shall be sixty years.
(2) It shall be lawful for any relevant authority by an instrument or in the manner prescribed (by the rules of any statutory corporation relating to the conditions of service of its staff) to require any pensionable officer of such corporation under its authority, or in relation to which it is empowered to deal with matters concerning the conditions of service of the staff of such corporation, to retire from the service of the corporation on his attainment of the age of 55 years.
(3) It is hereby declared that if before the commencement of this Act a pensionable officer of a statutory corporation was retired compulsorily on his attainment of the age of 55 years and before his attainment of the age of sixty years without any grounds being specified for the retirement, the officer shall not be deemed to have retired from the service of the corporation nor be treated as having been retired in consequence of the abolition of his office, but shall instead be deemed to have retired from the service of the corporation at the age of sixty years; and accordingly, he shall be entitled to a grant of pension, gratuity, compensation, allowance or other superannuation benefit which shall be determined and calculated in accordance with the scheme provided by the corporation for such grant.
(4) The foregoing provisions of this section shall have effect notwithstanding anything whatsoever to the contrary, particularly anything to the contrary in any enactment, law, regulation, rule, bye-law, order or any other instrument prescribed in relation to the conditions of service of the staff of such corporation or otherwise provided for, and such enactment, law or instrument shall be construed subject as provided under this Act with any necessary modifications.
- Power to extend services from year to year
(1) Where the officer has attained the retiring age limit or immediately before his attainment of that age; on being satisfied-
(a) that the services of the officer are required by the statutory corporation after that age; and
(b) that the officer is certified by a medical officer approved by the relevant authority to be physically fit for the purposes of his duties, the relevant authority may elect to continue or extend the services of the said officer thereafter from year to year or for such period or periods as it deems fit but not beyond the age of sixty years, and subject to such conditions as the relevant authority may at its discretion impose.
(2) The statutory corporation may, subject to the provisions of this Act, by regulations, bye-laws, orders or other subsidiary instruments, make provisions for the conditions under which the services of pensionable officers may, subject to the foregoing provisions of this Act, be extended or continued beyond the retiring age limit.
- Interpretation
In this Act, unless the context otherwise requires-
“statutory corporation” means a corporation established by or under any enactment;
“pensionable officer” means any person employed as a member of the staff of a statutory corporation who under the conditions of service of the corporation or within the terms of his employment is entitled to a grant of pensions, gratuities, compensation, allowances, or other superannuation benefits by virtue of his employment; and
“relevant authority” means the board or authority of the statutory corporation (howsoever named) empowered under any enactment or law or as the case may be, authorized in that behalf to deal with matters concerning the conditions of service of the staff of the corporation.
- Application
This Act-
(a) applies to all pensionable officers of a statutory corporation whether or not such officer was employed by the corporation by or under any contract, agreement or arrangement or under any instrument whatsoever, and anything under the terms of employment of the officer inconsistent with the provisions of this Act, shall to the extent of the inconsistency be void and of no effect;
(b) applies to all persons who qualify for or become pensionable officers in the employment of any statutory corporation before, on or after the commencement of this Act;
(c) extends to any corporate body established under the Companies and Allied Matters Act which is owned or partially owned by the Government of the Federation or of a State in the Federation, or as respects which the Government of the Federation or of such State owns any shares, stocks or debentures;
(d) shall not be so construed as to affect any action or proceedings begun, instituted or pending before a court of law at the commencement of this Act; and any action or proceedings begun or instituted after that date shall, accordingly, abate.
- Short title
This Act may be cited as the Statutory Corporations Pensionable Officer (Retiring Age Limit) Act.
SUBSIDIARY LEGISLATION
No Subsidiary Legislation
