The Ogun State Government has commenced the issuance of Additional Pension Benefits (APB) cheques to over 200 retirees from the Local Government and State Universal Basic Education Board (SUBEB), in a move aimed at improving their welfare.
The initiative, introduced under the administration of Dapo Abiodun, is designed to enhance the living standards of retirees under the Contributory Pension Scheme (CPS).
Speaking during the official presentation of cheques at the Oke-Mosan Secretariat, the Permanent Secretary, Bureau of Local Government Pensions, Olufisan Osiyale, said the APB was introduced to bridge disparities between pensioners under the Defined Benefit Scheme (DBS) and those under the CPS.
Osiyale explained that the APB is a one-off payment made directly to eligible retirees upon exit from service and would run for a period of 10 years. He added that beneficiaries could receive between 116 per cent and 280 per cent of their Annual Total Emolument, depending on their years of service.
He described the initiative as the first of its kind in Nigeria’s Contributory Pension Scheme, noting that it would help stabilise monthly pensions and ease financial challenges faced by retirees.
Also speaking, Permanent Secretaries in the Ministry of Local Government and Chieftaincy Affairs and the Local Government Service Commission, Dr. Rotimiolu Akinlesi and Engr. Mrs. Olanike Ogunbona, commended the governor for prioritising pensioners’ welfare, describing him as a leader committed to the wellbeing of workers and retirees.
They advised beneficiaries to make prudent use of the funds by investing in low-risk ventures rather than spending on non-essential items.
In his remarks, the State President of the Nigeria Union of Local Government Employees, Comrade Adebayo Adefesobi, represented by the Vice President, Comrade Fatai Akiode, said the initiative had restored confidence among retirees and urged the government to sustain timely remittances to Pension Fund Administrators.
Similarly, the State Chairman of the Local Government Pensioners Association of Nigeria, Pastor Benedict Ademoye, described the programme as a welcome development, noting that it reflects responsive and compassionate leadership.
A representative of Pension Fund Administrators, Mr. Ismail Salau, also highlighted the security of the CPS, assuring retirees of steady monthly pension payments for life and urging them to educate others to dispel misconceptions about the scheme.
Some beneficiaries, including Mr. Ajayi Amos and Mrs. Dorcas Agboola, expressed gratitude to the government, describing the gesture as timely and reassuring, while pledging to spread awareness about the initiative among other retirees.
The disbursement of APB cheques underscores the state government’s sustained commitment to improving the welfare of pensioners and strengthening the pension system.
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