Gov Makinde Approves Commencement Of Contributory Pension Scheme For Workers
Written by News Desk on June 18, 2026
Governor Seyi Makinde of Oyo State has approved the commencement of the Contributory Pension Scheme (CPS) for workers employed into the state’s civil and public service from January 1, 2025, marking a significant step in the administration’s pension reform agenda.
Chairman of the Oyo State Pensions Board, Honourable Tunji Rafiu Adekunle (JP), announced the development on Wednesday through a circular issued by the Permanent Secretary, Post Service Board, Rev. Adekunle Victor Adesola.
The circular was distributed to Ministries, Departments and Agencies (MDAs), as well as public servants across the state.
According to the statement, Governor Seyi Makinde approved the implementation of the scheme, which is scheduled to take effect officially from July 1, 2026. The initiative will specifically cover officers recruited into the Oyo State Civil/Public Service from the beginning of 2025.
The Board through the chairman explained that under the new pension arrangement, the Oyo State Government will contribute 12 per cent of an employee’s earnings, while workers will contribute 8 per cent, in line with the approved contribution framework for the state.
To ensure a smooth transition, the government also pledged to pay accrued pension benefits due to affected workers immediately the scheme takes off.
The move is expected to strengthen retirement security and improve pension administration within the state workforce.
As part of the implementation process, all MDAs have been directed to submit detailed records of employees recruited from January 1, 2025.
The information is to be provided using the prescribed Excel template and forwarded to the Oyo State Pensions Board in both hard and electronic copies.
The circular further instructed every ministry, department and agency to appoint a Pension Desk Officer to coordinate CPS-related activities with the Board. Details of the designated officers, including their names, positions and contact information, must accompany the submissions, which are expected to reach the Board on or before June 22, 2026.
