Governor Seyi Makinde of Oyo State has approved the immediate implementation of the Contributory Pension Scheme (CPS) for eligible workers in the state.

The development was announced by the Chairman of the Oyo State Pensions Board, Tunji Adekunle, in a statement issued on Thursday by the Commissioner for Information, Dotun Oyelade, and made available to journalists in Ibadan.

According to the statement, Adekunle disclosed the approval through a circular issued by the Permanent Secretary of the Post Service Board, Rev. Adekunle Victor Adesola. The circular, referenced OYPB/G/24/VOL.IV/11, was sent to Ministries, Departments and Agencies (MDAs), stakeholders, and public servants across the state.

Adekunle stated that the scheme would apply to officers employed into the Oyo State Civil/Public Service from January 1, 2025, while its official commencement date has been fixed for July 1, 2026.

Under the new arrangement, the Oyo State Government will contribute 12 per cent of employees' pension funds, while workers will contribute eight per cent, in line with the approved contribution structure.

He further assured that the government would settle accrued pension benefits owed to affected employees immediately upon the commencement of the scheme.

To facilitate implementation, all MDAs have been directed to submit comprehensive records of staff recruited into the state civil/public service from January 1, 2025, using the prescribed Excel template. The submissions are to be forwarded to the Oyo State Pensions Board in both hard and soft copies.

The Pensions Board also directed every ministry, department, and agency to appoint a Pension Desk Officer who will serve as the liaison between the agency and the board.

According to Adekunle, the initiative is designed to enhance coordination, accountability, capacity building, and the efficient administration of matters relating to the Contributory Pension Scheme. Details required for the designated officers include their full names, positions, grade levels, phone numbers, email addresses, and WhatsApp contacts.

The circular instructed all MDAs to submit the requested information and supporting documents to the board on or before June 22, 2026.