Makinde okays immediate contributory pension scheme for Oyo workers

The Chairman of the Oyo State Pensions Board, Tunji Adekunle, has disclosed that Governor Seyi Makinde has approved the immediate rollout of the Contributory Pension Scheme in the state.

This was contained in a statement issued on Thursday by the Commissioner for Information, Dotun Oyelade, and made available to journalists in Ibadan, the Oyo State capital.

According to Oyelade, Adekunle made this known 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 as well as civil/public servants across the state.

“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,” the Chairman said.

He explained that the pension contribution rate would 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.

Adekunle added that the state government would ensure the immediate payment of accrued benefits to all affected employees upon the commencement of the scheme.

He 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,” Adekunle said.

According to him, 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,” Adekunle said.

The circular also directed that all requested information and relevant documents be submitted to the Board on or before Monday, June 22, 2026