Makinde Approves Commencement Of Contributory Pension Scheme In Oyo State
The Chairman of the Oyo State Pensions Board, Hon. Tunji Rafiu Adekunle (JP), has announced that the Executive Governor of Oyo State, Engr. Seyi Makinde, FNSE, DSC, GSSRS, has approved the immediate commencement of the Contributory Pension Scheme (CPS) in the state.
Hon. Adekunle disclosed this on Wednesday through the Permanent Secretary, Post Service Board, Rev. Adekunle Victor Adesola, in a circular with Reference No. OYPB/G/24/VOL.IV/11, issued to inform all stakeholders, Ministries, Departments and Agencies (MDAs), as well as civil/public servants across the state.
According to the Chairman, the scheme will apply to officers employed into the service of Oyo State with effect from January 1, 2025, while the Contributory Pension Scheme will officially commence on July 1, 2026.
He explained that the pension contribution rate will be 12 per cent from the employer (Oyo State Government) and 8 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 commencement of the scheme.
Hon. Adekunle therefore directed all MDAs to forward a comprehensive list of employees recruited into the Oyo State Civil/Public Service from January 1, 2025, using the attached proforma in Excel format. The submissions are to be made in both hard and soft copies to the Board.
He further stated that each Ministry, Department and Agency is 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 (CPS). 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 Monday, June 22, 2026.
