Chairman of the Oyo State Pensions Board, Tunji Adekunle, announced that Governor Seyi Makinde approved the commencement of the scheme, which is designed to strengthen retirement benefits for public sector employees.
According to the Board, the scheme will apply to officers employed into the Oyo State Civil and Public Service from January 1, 2025, while full implementation will officially begin on July 1, 2026.
Under the approved contribution structure, the Oyo State Government will contribute 12 percent of each employee’s monthly emoluments, while employees will contribute 8 percent, bringing the total monthly pension contribution to 20 percent.
The government also assured that all accrued pension benefits due to affected employees would be paid promptly upon the commencement of the scheme.
To facilitate implementation, all Ministries, Departments and Agencies (MDAs) have been directed to submit a comprehensive list of employees recruited from January 1, 2025, using the prescribed Excel template provided by the Oyo State Pensions Board.
In addition, every MDA is required to appoint a Pension Desk Officer who will serve as the liaison between the agency and the Board. The designated officer is expected to coordinate pension-related activities, support effective communication, and ensure the smooth administration of the Contributory Pension Scheme.
The Board stated that details of the nominated Pension Desk Officer should include the officer’s full name, designation, grade level, WhatsApp number, email address, and telephone number.
All required documents and employee records are to be submitted to the Oyo State Pensions Board on or before June 22, 2026, to ensure a seamless rollout of the scheme.
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