- February 5, 2020
- Posted by: finance_admin
- Category: Finance
Governor, the State of Osun, Mr Adegboyega Oyetola has approved the immediate release of the sum of N500million for the payment of entitlement to retired workers enrolled under the Contributory Pension Scheme (CPS).
The Head of Service, State of Osun, Dr Festus Olowogboyega, made this known in a statement issued on Wednesday in Osogbo, the State capital.
The statement said names of the beneficiary retirees were picked on merit, adding that the process was monitored by the executive committee of the retired workers’ group.
According to the statement, names of the selected beneficiaries will be posted on the Notice Board of the State Pension Board on Thursday, 6 February, 2020. It added that bond certificates would be presented to the beneficiaries by Governor Oyetola on 14, February, 2020.
Similarly, Governor Oyetola has approved the release of another N50million for the part payment of gratuities to retirees under the old Pension Scheme.
Dr Olowogboyega said 250 retirees who have been selected on merit would start receiving their cheques as from Thursday, 6 February, 2020.
He disclosed that a list containing names of the beneficiary pensioners has already been posted on the Public Notice Board of the State Pension Board and that of the Ministry of Information.
Meanwhile, the State Pension Board has appreciated Governor Oyetola for the approval and for being sensitive to the plight of the pensioners and the workers in the State.