The Oyo State Government has approved the immediate implementation of the Contributory Pension Scheme (CPS) for public servants employed from January 1, 2025, marking a significant step in the state’s pension administration reforms.
Chairman of the Oyo State Pensions Board, Tunji Adekunle, announced the development in a circular issued to Ministries, Departments and Agencies (MDAs), as well as civil and public servants across the state.
The approval, granted by Governor Seyi Makinde, was disclosed in a statement issued on Thursday by the Commissioner for Information, Dotun Oyelade, and made available to journalists in Ibadan.
According to the circular, referenced OYPB/G/24/VOL.IV/11, the scheme will officially take effect from July 1, 2026, and will apply to officers recruited into the Oyo State Civil and Public Service from January 1, 2025.
Adekunle explained that the contribution structure under the scheme would require the Oyo State Government to contribute 12 per cent of an employee’s monthly earnings, while employees would contribute eight per cent, in line with the state’s approved pension framework.
He assured affected workers that the government would promptly pay all accrued pension benefits due to them once the scheme becomes operational.
As part of preparations for the rollout, the Pensions Board directed all MDAs to submit a comprehensive list of employees recruited into the state civil and public service since January 1, 2025.
The submissions, which are to be made using an attached Excel-format proforma, must be forwarded to the Board in both hard and soft copies.
The Board also instructed every MDA to appoint a Pension Desk Officer who will serve as the liaison between the agency and the Pensions Board on matters relating to the scheme.
According to Adekunle, the designation of desk officers is intended to strengthen coordination, improve accountability, facilitate capacity building and ensure smooth administration of the Contributory Pension Scheme.
The details required for the nominated officers include their full names, official designations, grade levels, WhatsApp numbers, email addresses and telephone contacts.
The circular further directed that all requested information and supporting documents be submitted to the Oyo State Pensions Board on or before June 22, 2026, to enable seamless implementation of the new pension arrangement.
The introduction of the CPS is expected to provide a structured retirement savings system for newly recruited workers while ensuring sustainable pension management in the state.
