Section 12: Pensions.

(1)
Service in the Authority shall be approved service for the purpose of the Pensions Act and, accordingly, officers and other persons employed in the Authority shall be entitled to pensions, gratuities and other benefits as are prescribed thereunder.
(2) Notwithstanding subsection (1) of this section, the Authority may appoint a person to any office on terms which preclude the grant of a pension, gratuity or other retirement benefits in respect of that office.
(3) For the purpose of the application of the provisions of the Pensions Act, any power exercisable thereunder by a Minister or other authority of the Government of the Federation, other than the power to make regulations under section 23 thereof, is hereby vested in and shall be exercisable by the Authority and not by any other person or authority.