Osun State governor, Ogbeni Rauf Aregbesola has presented N1.8bn retirement bond certificate to 266 pensioners in the state.
The 266 beneficiaries are the third batch of retirees under the contributory pension scheme in the State of Osun to receive their Retirement Bond Certificate.
Aregbesola during the presentation made it known that two hundred sixty six (266) retirees, both in the State and Local Governments Service benefited from the scheme.
This he said, includes 139 primary school teachers, 55 local government and 72 state retirees.
He assured the retirees that, presentation of bond certificates would be a continuous exercise sequel to the availability of funds, noting that, no retirees will be short changed.
Speaking at the programme, the Head of Service, Mr. Sunday Owoeye explained that, as part of governmentâ€™s effort to make life comfortable for retirees, the state government has approved the establishment of a data base for the use of the bureau which will bring about improvement in the prompt remittances of monthly contribution and efficient transfers of accrued benefit to Retirement Savings Account (RSA) of workers.
Mr. Owoeye stated that, Osun is ranked among the states that is diligently implementing the scheme, noting that, this is as a result of the doggedness of the State Governor, Ogbeni Rauf Aregbesola.
He said the scheme is implemented to surmount the challenges of old defined benefit scheme. He however, advised them to spend the money judiciously. In his address of welcome, the Permanent Secretary, Local Government Staff Pension Bureau, Mr. Kayode Afolabi said that, the contributory pension scheme will assist civil servants to save towards their retirement.
Mr. Afolabi explained that, the scheme also ensures that persons who leave or retire from public service will receive their benefits as and when due because there is a system of rules and regulations for the administration and payment of retirement benefits to beneficiaries.
He maintained that, since the commencement of the Contributory Pension Scheme (CPS) in the state in 2010, positive development had been recorded.
According to him, in line with the global best practices and PENCOMâ€™s recommendation, a pre-retirement workshop was earlier organized for the beneficiaries of the scheme to assist them prepare for a new life as pensioners.
Responding on behalf of other beneficiaries, Mrs. Moji Adeleke appreciated the state Government for the kind gesture and prayed that God will improve the state of the economy in Osun and Nigeria.
Culled from VANGUARD