Governor Seyi Makinde of Oyo State has approved the immediate commencement of the Contributory Pension Scheme (CPS) in the state.
The Chairman of the Oyo State Pensions Board, Tunji Adekunle, disclosed this on Wednesday through the Permanent Secretary of the Post-Service Board, Victor Adesola, in a circular with reference No. OYPB/G/24/VOL.IV/11.
The circular was issued to inform all stakeholders, Ministries, Departments and Agencies (MDAs), as well as civil and public servants across the state, of the scheme’s take-off.
According to the chairman, the scheme will apply to officers employed in the service of Oyo State with effect from 1 January 2025, while the Contributory Pension Scheme will officially commence on 1 July 2026.
He explained that the pension contribution rate will be 12 per cent from the employer,(Oyo State government), and eight per cent from the employee, in line with the approved contributory structure in the state.
He added that the state government will ensure the immediate payment of accrued benefits to all affected employees upon the scheme’s commencement.
Mr Adekunle, therefore, directed all MDAs to forward a comprehensive list of employees recruited into the Oyo State civil and public service from 1 January 2025.
He further stated that each ministry, department and agency was required to designate a pension desk officer to serve as a liaison between the respective MDA and the board.
“This measure is aimed at facilitating effective coordination, capacity building, accountability and the seamless processing of all matters relating to the Contributory Pension Scheme.
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“The details of the nominated desk officer should include full name, designation/post, grade level, WhatsApp number, email address and phone number,” he said.
The circular also directed that all requested information and relevant documents be submitted to the board on or before 22 June.
( NAN )
Read the full article at Premium Times Nigeria →📄Source document: Circular from Oyo State Pensions Board
3 reports
Premium Times NigeriaIndependentCenter3 days agoGovernor Seyi Makinde of Oyo State has approved the implementation of a Contributory Pension Scheme (CPS) starting in 2025, with full operation beginning in July 2026. The scheme requires employers (the state government) to contribute 12% and employees to contribute 8%. Officials have instructed relevant departments to compile lists of eligible employees and appoint liaison officers.
Bias read (Center): The article presents factual information about the approval and details of the pension scheme without overtly favoring any political side. It includes direct quotes from officials and outlines procedural steps without editorializing or biased language.
Official sources cited
- government Circular from Oyo State Pensions Board
The PunchIndependentCenter3 days agoGovernor Seyi Makinde has approved the implementation of a Contributory Pension Scheme for workers in Oyo State, set to begin on July 1, 2026.
Bias read (Center): The article presents a factual statement without opinion, framing, or emphasis that would indicate a particular ideological leaning. It simply reports the approval of a policy by a state governor.
Vanguard NigeriaIndependentCenter3 days agoGovernor Seyi Makinde of Oyo State has approved the implementation of a Contributory Pension Scheme (CPS) in the state. The scheme will begin applying to new employees hired after January 1, 2025, with an official start date set for July 1, 2026. Under the plan, the Oyo State government will contribute 12% of the pension amount, while employees will contribute 8%. Officials have instructed relevant ministries, departments, and agencies to submit lists of newly recruited staff and appoint liaison officers to manage pension-related matters.
Bias read (Center): The article presents factual information regarding the approval and details of the Contributory Pension Scheme without apparent ideological framing. It reports on a policy decision by the governor and includes specifics such as dates, percentages, and administrative procedures. There is no evident倾向
Official sources cited
- government Circular from Oyo State Pensions Board
NG