Section 16: Service in the Institute is pensionable.

(1) Service in the Institute shall be public service for the purpose of the Pension Reform Act and, officers and other staff of the Institute are, in respect of their service in the Institute, entitled to pension, severance and other retirement benefits in conformity with provisions of the Pension Reform Act.
(2) Notwithstanding the provisions of subsection (1), nothing in this Act prevents the appointment of a person to any office on terms which preclude the grant of pension and retirement benefits in respect of that office.
(3) For the purpose of the application of the provisions of the Pension Reform Act, any power exercisable by a Minister or other authority of the Government of the Federation is vested in, and exercisable by, the Board.