Oyo State Government Ups the Ante on Pensioner Support

The Oyo State Head of Service, Mrs. Olubunmi Oni, mni, has announced that the Oyo State Government will continue to prioritize the welfare of its pensioners. Speaking at a two-day Sensitisation/Training Programme for prospective retirees from primary schools and local government service in Ibadan on Monday, July 15, 2024, Mrs. Oni highlighted the government’s commitment to increasing monthly gratuity payments. She revealed that the payments have been doubled from N250 million to N500 million each at both the state and local government levels, making a total of N1 billion monthly. This significant increase aims to clear the backlog of gratuities faster, ensuring timely payments to retirees.

Hon. Akeem Ige, Chairman of the Local Government Staff Pension Board, praised Governor Seyi Makinde for his unwavering dedication to the welfare of pensioners since taking office in 2019. He commended the governor for his approval of the sensitisation programme, which is designed to educate and prepare retirees for a smooth transition into retirement.

In a key presentation, Comrade Segun Abatan, State Secretary of the Nigeria Union of Pensioners (NUP), discussed the theme “Toward Achieving Hitch-Free Processing of Retirement Benefits.” He announced that going forward, retirees will start receiving their pensions immediately after retirement. This initiative is a result of Governor Makinde’s proactive steps to make retirement more attractive and financially secure for the state’s workforce.

Mr. Lukman Akinola, Permanent Secretary of the Local Government Staff Pension Board, assured participants that the sensitization programme is structured to significantly enhance the efficiency of processing pensions and gratuities. He emphasized that the training would equip retirees with the necessary knowledge and tools to ensure that their benefits are processed promptly and without issues.

The two-day training programme covered a range of topics crucial for prospective retirees. These included:

– Understanding Pension Laws and Regulations: Detailed sessions on the legal framework governing pensions, helping retirees understand their rights and entitlements.

– Navigating the Retirement Process: Practical guidance on the steps to take before and after retirement to ensure a smooth transition.

– Financial Planning for Retirement: Expert advice on managing finances post-retirement, including budgeting, investments, and managing healthcare costs.

– Support Systems and Resources: Information on available support systems, including health benefits, social activities, and other resources provided by the state government and pensioners’ associations.

Participants expressed their gratitude for the programme, noting that it provided them with valuable insights and a better understanding of how to navigate the retirement process. Many appreciated the government’s efforts to improve the pension system and ensure that retirees receive their benefits promptly.

The Oyo State Government’s initiative to increase gratuity payments and provide comprehensive training for prospective retirees underscores its commitment to the welfare of its pensioners. By addressing the backlog of gratuities and ensuring immediate pension payments, the government is taking significant steps to support its retired workforce, reflecting its dedication to enhancing the quality of life for all its citizens.