Re-Commencement of the Contributory Pension Scheme (CPS) for Oyo State Civil Servants
Re-Commencement of the Contributory Pension Scheme (CPS) for Oyo State Civil Servants
Re-Commencement of the Contributory Pension Scheme (CPS) for Oyo State Civil Servants
I write to refer to the above subject and to inform you that His Excellency, the Executive Governor of the State, Engr. Seyi Makinde, FNSE, DSC, GSSRS, has approved the immediate commencement of Contributory Pension Scheme (CPS) in the State.
2. The scheme shall apply to categories of officers employed into the service of the State with effect from 1st January, 2025, while the effective date of the commencement of the Contributory Pension Scheme (CPS) is 1st July, 2026.
3. The pension contribution rate shall be in the ratio 12% by the “Employer (Oyo State Government)” and 8% by the Employee, in accordance with the approved contributory structure in the State. Furthermore, the State Government shall ensure the immediate payment of the accrued benefits of all affected employees upon the commencement of the Scheme.
4. To this end, all Ministries, Department and Agencies (MDAs) are hereby required to forward to the Board a comprehensive list of all employees recruited into the State Civil/Public Service with effect from 1st January, 2025, using the attached proforma (Excel format)in both hard and soft copies.
