RELIEF FOR RETIREES AS OGUN APPROVES ADDITIONAL PENSION BENEFIT
The Ogun State Government has reaffirmed its commitment to improving the welfare of workers and retirees under the Contributory Pension Scheme (CPS) with the approval of an Additional Pension Benefit (APB) aimed at enhancing retirement security and closing existing gaps in the scheme. The development was disclosed during a meeting chaired by the Honourable Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, following strategic engagements between the State Government, labour unions, Pension Fund Administrators (PFAs), and members of the Pension Fund Management Committees. Speaking at the meeting, the Commissioner emphasised that compliance with the CPS law is both mandatory and beneficial to employees and the State. He explained that the Defined Benefit Scheme (DBS) and the CPS are fundamentally different, stressing that the administration of Dapo Abiodun remains committed to addressing identified gaps in order to safeguard workers’ interests. He disclosed th...
