OKERE OF SAKI OBA KHALID OYENIYI OLABISI COMMENDS GOV MAKINDE FOR APPROVING CONTRIBUTORY PENSION SCHEME

The Okere of Saki,, Oba (Dr) Khalid Oyeniyi Olabisi Oyedepo 111 has commended the Executive Governor of Oyo State, Engr Oluseyi Abiodun Makinde for approving the commencement of Contributory Pension Scheme (CPS) for newly employed Oyo workers

Oba Dr Khalid Oyeniyi Olabisi Oyedepo 111 gave the commendation while receiving the management of the Oyo State Local Government Staff Pension Board led by the Chairman, Hon Akeem Ademola Ige in the monarch’s palace this morning.

According to a press release issued and signed by the Head of Information Unit of the Board, Mrs Olabanke Adeyemo said that the paramount monarch in Oke Ogun zone , gave kudos to the Governor for all the workers and pensioners friendly welfare policies and packages since his assumption of office and particularly lauded Engr Seyi Makinde for the recent approval of the scheme that will commence from 1st July 2026 starting with the newly employed workers of 1st January, 2025.

The monarch added that the implementation of the new scheme will make retirement peaceful and enjoyable and that there will be no delay in the payment of pensions and gratuity again as Pension Custodians will be the ones to be managing the Retirement Savings Account ( RSA) on behalf of the Pension Fund Administrators whose core mandate it is to maintain up to date records on the enrollees and employers contribution and seamless disbursement of the retirement benefits as and when due.

Oba Khalid Oyeniyi Olabisi also said he retired as a federal worker before the introduction of Contributory Pension Scheme and sadly he could not get his retirement benefits unlike those that retired after him that joined the scheme were able to receive their retirement benefits immediately they retired.

He therefore appreciated the Chairman of the Board Hon Akeem Ademola Ige describing him as a round peg in a round hole who has been consistent in complementing the efforts of the governor in putting smiles on the faces of senior citizens .

Earlier in his speech at the palace, the Chairman of the Oyo State Local Government Staff Pension Board, Hon Akeem Ademola Ige said the purpose of the visit is to pay homage and intimate the paramount ruler of Saki on the sensitization meeting on Contributory Pension Scheme with the newly employed workers with the primary of explaining the benefits of the scheme to the prospective enrollees.

Hon Ige also said the defined benefits scheme is longer sustainable and thus the Executive Governor of Oyo State Engr Oluseyi Abiodun Makinde in his magnanimity approved the implementation of Contributory Pension Scheme.

He said Seyi Makinde led government ( employer) in its love for workers of the pacesetter state will contribute twelve percent while employees will contribute eight percent of their basic salary, transport and housing components of their total monthly emoluments.

Hon Ige then lauded the traditional rulers in Oke Ogun for complementing the efforts of the state government in ensuring security of lives and property.

The Chairman and his team later held sensitization meeting with the newly employed in Oke Ogun zone 2 comprising Saki West, Saki East, Atisbo, Irepo, Oorelope and Olorunshogo LGs held at Saki West Local Government .

The team had earlier held meetings with prospective enrollees in Oyo , Ogbomoso, Ibarapa, Oke Ogun zones 1 & 2 and that of Ibadan zone will take place next week Tuesday at the Local Government Staff Training School, Secretariat Ibadan.

Dignitaries in attendance across the zones were the Permanent Secretary, Local Government Staff Pension Board , Tpl Olufemi Akinwale, Permanent Secretary, Oke Ogun 1 Alhaji Hamzat Busari, Permanent Secretary Oke Ogun 2 Mr Iyiola Olalekan, Ogbomoso Zone Mr Thomas Oguntona,.Oyo zone Mrs Titilayo Lanre- Adesina , Ibarapa zone Dr (Mrs) Adefunke Hamzat, HLGAs, Acting HLGAs , Directors, Union leaders and a host of others.