The Oyo State Government has officially fixed July 1, 2026, as the commencement date for the implementation of its Contributory Pension Scheme (CPS), alongside the approval of a 12 percent employer contribution aimed at strengthening retirement benefits for civil and public servants in the state.
This was disclosed by the Chairman of the Oyo State Pensions Board, Hon. Tunji Rafiu Adekunle, through a circular issued via the Permanent Secretary of the Post Service Board, Rev. Adekunle Victor Adesola, and addressed to Ministries, Departments, and Agencies (MDAs) across the state.
According to the circular, the scheme will officially commence on July 1, 2026, while its coverage will apply to all officers who joined the Oyo State civil and public service from January 1, 2025.
The pension arrangement introduces a contributory structure where the state government will contribute 12 percent of each worker’s monthly emoluments, while employees will contribute 8 percent, making a combined monthly contribution of 20 percent into the pension fund.
The Board explained that the initiative is designed to ensure long-term sustainability of pension payments and improve retirement security for workers under the state’s employment.
As part of the implementation process, all MDAs have been directed to submit detailed records of employees recruited from January 1, 2025, using a prescribed template provided by the Pensions Board. The submission is expected in both hard and soft copies to ensure proper documentation.
In addition, each ministry and agency is required to appoint a Pension Desk Officer who will serve as a liaison between the MDA and the Pensions Board. The officer’s details including name, designation, grade level, phone number, WhatsApp contact, and email address must be forwarded for coordination purposes.
The circular further emphasized the need for timely submission of all required documents, setting a deadline of June 22, 2026, to ensure a smooth rollout of the scheme across the state.
The government noted that the reform aligns with efforts to create a more transparent, accountable, and financially sustainable pension system for public servants in Oyo State.
