Makinde Approves Immediate Commencement of Contributory Pension Scheme in Oyo

The Chairman of the Oyo State Pensions Board, Tunji Adekunle, has announced that Governor Seyi Makinde has approved the immediate commencement of the Contributory Pension Scheme (CPS) in the state.

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

According to the statement, Adekunle conveyed the governor’s approval through the Permanent Secretary, Post Service Board, Rev. Adekunle Victor Adesola, in a circular addressed to stakeholders, Ministries, Departments and Agencies (MDAs), as well as civil and public servants across the state.

Adekunle stated that the scheme would apply to officers employed into the Oyo State Civil and Public Service from January 1, 2025, while the official commencement date for the Contributory Pension Scheme has been fixed for July 1, 2026.

He explained that the contribution structure would require the Oyo State Government, as the employer, to contribute 12 per cent, while employees would contribute 8 per cent of their salaries.

The Pensions Board Chairman also assured workers that the state government would ensure the immediate payment of accrued pension benefits due to all affected employees once the scheme takes effect.

To facilitate implementation, Adekunle directed all MDAs to submit a comprehensive list of employees recruited into the Oyo State Civil and Public Service from January 1, 2025, using the prescribed Excel format provided by the board.

He further instructed each Ministry, Department and Agency to designate a Pension Desk Officer who would serve as a liaison between the agency and the Oyo State Pensions Board.

According to him, the initiative is aimed at enhancing coordination, accountability, capacity building and the efficient processing of matters relating to the Contributory Pension Scheme.

The designated officers are expected to provide details including their full names, positions, grade levels, WhatsApp numbers, email addresses and telephone contacts.

The circular also directed that all requested information and supporting documents be submitted to the Oyo State Pensions Board on or before Monday, June 22, 2026.