The appointment is in accordance with section 211 of the National Pensions Act 2008 (ACT 766).
The new role will see the minister steering the affairs of the National Pensions Regulatory Authority (NPRA) and the Social Security and National Insurance Trust (SSNIT) effective January 30, 2023.
The National Pensions Act (766), passed in 2008, stipulates that all parallel pension schemes be unified and brought under the three-tier system but these provisions have not been implemented.
He made this known when he appeared before the Public Accounts Committee on Wednesday, February 1, 2023.
However, the new appointment has been widely opposed by the minority caucus in parliament.