Section 8: Pensions

(1)
Notwithstanding the provisions of the Pensions Act, it is hereby declared that service in the Institute shall be approved service for the purposes of that Act and, accordingly, officers and other persons employed in the Institute shall, in respect of their service in the Institute, be entitled to pensions, gratuities and other retirement benefits as are enjoyed by persons holding equivalent grades in the public service of the Federation, so however that nothing in this Act shall prevent the appointment of a person to any office on terms which preclude the grant of a pension and gratuity in respect of that office.
(2)
For the purposes 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 Board and not by any other authority.