Governor Dapo Abiodun Inaugurates Pension Committees, Pledges Dignity for Retirees

Abeokuta – In a significant step to safeguard the welfare of retired public servants in Ogun State, Governor Dapo Abiodun has inaugurated two Pension Fund Management Committees charged with overseeing the Contributory Pension Scheme (CPS) for state and local government employees. The 25-member committees, launched at the Executive Chambers in Oke-Mosan, Abeokuta, are set to enhance transparency, accountability, and efficiency in the management of pension funds.

Governor Abiodun described the move as a fundamental restructuring of the state’s pension system, affirming his commitment to fulfilling all legal, moral, and economic obligations to retirees who have served Ogun State faithfully. The committees will be responsible for providing professional oversight of the CPS, ensuring compliance with PENCOM regulations, monitoring pension fund administrators and custodians, advising on risk management, reviewing remittance schedules, and educating civil servants on their pension benefits.

Established under Section 19, Paragraph 2 of the Ogun State Pension Reform Law (2006), the committees’ formation follows extensive consultations with organised labour and the recent signing of a Memorandum of Action. This marks a decisive step towards resolving longstanding pension arrears and eliminating systemic delays that have previously caused hardship for retirees.

Governor Abiodun acknowledged the difficulties experienced under the previous Defined Benefits Scheme and highlighted that the CPS aims to address those issues by promoting financial stability and secure retirements. He underscored the administration’s approach of viewing labour as a partner rather than an adversary, noting the suspension of recent industrial action as evidence of productive collaboration.

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Engr. Olufisan Osiyale, chair of the Local Government Pensions Committee, and Mrs. Arinola Adetayo, chair of the State Pensions Committee, expressed their gratitude for the trust bestowed on them and committed to working with all stakeholders to achieve the committees’ objectives.

Governor Abiodun concluded by stating that this new pension framework signals a shift from years of debt and neglect to an era of justice, discipline, and respect for retirees, ensuring their golden years are spent with dignity and financial security.