The Oyo State Government has officially approved the immediate rollout of the Contributory Pension Scheme (CPS), marking a major reform in the state’s pension administration system.
The development was confirmed by the Chairman of the Oyo State Pensions Board, Tunji Adekunle, through a statement issued on Thursday, by the Commissioner for Information, Dotun Oyelade, and made available to journalists in Ibadan.
According to the statement, the directive follows Governor Seyi Makinde’s approval for the implementation process to begin without delay, with full commencement scheduled for July 1, 2026.
Coverage and Contribution Structure Explained
The board explained that the new pension arrangement will apply to all workers employed into the Oyo State civil and public service from January 1, 2025.
Under the scheme, the government will contribute 12 per cent of an employee’s salary, while workers themselves will contribute 8 per cent, in line with the approved contributory framework.
Authorities also confirmed that accrued pension benefits for eligible workers will be paid immediately once the scheme becomes fully operational.
MDAs Directed to Submit Staff Records
As part of the implementation process, all Ministries, Departments and Agencies (MDAs) have been instructed to compile and forward detailed records of employees recruited from January 1, 2025.
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The submission is expected in both hard and soft copies using a standardized Excel format provided by the Pensions Board.
Each MDA has also been directed to appoint a Pension Desk Officer who will serve as a liaison with the board to ensure smooth coordination of the scheme.
The designated officers are required to provide full personal and professional details, including contact information, email addresses, WhatsApp numbers, and job designations.
Deadline Set for Compliance
The Pensions Board further stated that all requested information must be submitted on or before Monday, June 22, 2026, warning that strict compliance is necessary for the successful rollout of the pension reform.
Officials described the initiative as part of broader efforts to improve accountability, strengthen retirement benefits, and modernise pension administration in the state.