The Oyo State Government has fixed July 1, 2026, for the commencement of the Contributory Pension Scheme (CPS) for civil servants and public office holders employed from January 1 last year.<\/p>\n
The Chairman of the State Civil Service Commission, Tunji Adekunle, disclosed this during a meeting with Pension Fund Administrators (PFAs) in Ibadan.<\/p>\n
Assuring that necessary arrangements had been concluded for a seamless rollout, Adekunle described the development as a major step towards securing the future of workers.<\/p>\n
He said: \u201cThe Oyo State Government will contribute 12 per cent, while employees will contribute eight per cent of their monthly earnings.\u201d This, he added, demonstrated the government\u2019s commitment to workers\u2019 welfare and exceeded the 10 per cent employer contribution benchmark at the federal level.<\/p>\n
He assured workers that the CPS was designed to strengthen, and not diminish, their welfare, stressing that the scheme would provide individual Retirement Savings Accounts (RSAs), ensure transparency, and guarantee portability of benefits across employments.<\/p>\n","protected":false},"excerpt":{"rendered":"The Oyo State Government has fixed July 1, 2026, for the commencement of the Contributory Pension Scheme (CPS)…\n","protected":false},"author":2,"featured_media":761636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,271386,271387,131,132],"class_list":["post-761635","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-finance","tag-oyo-state-government","tag-oyos-contributory-pension-scheme","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/761635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=761635"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/761635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/761636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=761635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=761635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=761635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}