Governor Seyi Makinde has approved the immediate implementation of the Contributory Pension Scheme (CPS) in Oyo State, marking a major step in the state’s pension reform efforts.
The Chairman of the Oyo State Pensions Board, Mr. Tunji Adekunle, announced the development through a circular signed by the Permanent Secretary of the Post-Service Board, Rev. Victor Adesola, and issued to Ministries, Departments and Agencies (MDAs), as well as civil and public servants across the state.
According to the circular, the scheme will apply to all officers employed into the Oyo State civil and public service from January 1, 2025, while full implementation of the Contributory Pension Scheme will commence on July 1, 2026.
Adekunle explained that under the approved arrangement, the Oyo State Government will contribute 12 percent of employees’ salaries, while workers will contribute 8 percent, in line with the state’s pension structure.
He assured affected employees that the government would immediately pay all accrued pension benefits upon the commencement of the scheme.
As part of preparations for the rollout, all MDAs have been directed to submit a comprehensive list of employees recruited into the state civil and public service from January 1, 2025.
The chairman also instructed each ministry, department and agency to appoint a pension desk officer to serve as a liaison between the agency and the Oyo State Pensions Board.
According to him, the measure is designed to ensure effective coordination, accountability, capacity building and the seamless administration of the pension scheme.
MDAs are expected to provide details of their designated desk officers, including their full names, designations, grade levels, WhatsApp numbers, email addresses and telephone contacts.
The board further directed that all requested information and relevant documents be submitted on or before June 22 to facilitate the smooth implementation of the scheme.
The development is expected to strengthen pension administration in Oyo State and provide a more sustainable retirement savings framework for public servants.
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