Osun State Parliament today passed two bills into laws; the Contributory Pension Bill 2008 and the Road Traffic Law [Amendment] Bill 2008 with the Contributory Pension Bill pegging the retirement at 60 years or after 35 years of service.

According to the Contributory Pension Bill, any employee who has less than three years at the commencement of the bill is exempted and entitled to retirement benefits under the old arrangement.

The Speaker, Hon Adejare Bello explained that with the new arrangement,'' where an employee stays beyond the the date of retirement, the emoluments earned by him and actually paid to him in excess shall be deducted from his retirements before bonding''.

Hon Bello added that the scheme is to assist all persons in the employment of Osun State Government to save towards their retirement; ensure that persons who leave or retire from the public service receive their terminal or retirement benefits as and when due.

A minimum of 7.5% is expected to be contributed by the employer and 7.5% to be contributed by the employee in trust for the employee.

With the passage of the Pension Bill, a Bureau to be known as State Public Service Pension Bureau and Local Government Staff Pension Bureau.

The Bureau shall be made up of existing pension boards or offices in the public service and the local government service.

According to the letters of the amended road traffic law, any person driving under the influence of alcohol to the extent of not having proper control of such vehicle shall be liable to a fine of N25,000 or be sentenced to two months imprisonment or both.

For dumping heaps of Sand, Granite and any other obstructive material on the highway, an offender is liable to One month imprisonment, N10,000 fine and forfeiture of the material.

Parking of vehicles on the road for more than 24 hours attracts a jail term of one month and or N25,000 fine, creation of speed breakers without permission attracts same penalty.

Blocking of major roads attracts a jail term of 2 months and or N50,000 fine while non-usage of crash helmets by riders and passengers of commercial motor-cycles risk a month jail term.