The authority of the Oyo State Local Government Staff Pension Board in conjunction with South West Zonal office of National Pension Commission today organized training of trainers on the operationalization of Contributory Pension Scheme.
Speaking at the programme held at the Local Government Staff Training School, Secretariat , Ibadan, today , the Chairman of the Board, Hon Akeem Ademola Ige in his speech said the Board is fully committed to working with the National Pension Commission ( PENCOM), the Pension Fund Administrators , the government and all relevant stakeholders to ensure the Contributory Pension Scheme is implemented effectively transparently and sustainably in the Local Government sector of Oyo State.
Hon Ige stated further that the Executive Governor of Oyo State, His Excellency, Engr Oluseyi Abiodun Makinde’s Administration has demonstrated a strong commitment to the welfare and well being of workers and pensioners in the state.
While delivering her address, the Deputy Head, South West zonal office of National Pension Commission , Mrs Sarah Joseph described the implementation of Contributory Pension Scheme as one of the beautiful things that happened in Oyo state.
Mrs Sarah Joseph disclosed that ” Pension industry is one of the highly regulated industries in Nigeria where safety of fund is guaranteed. Both safety and growth of funds are important in Contributory Pension Scheme. Noting that Pension fund has one of the highest rated “Return on Investment” in Nigeria.
She gave full insight into the Contributory Pension Scheme , clarified misconception about the scheme and assured that the scheme protects workers effectively.
In their separate goodwill messages, the Executive Secretary of the state Primary Health Care ( PHCC) Board, Dr Muideen Olatunji, the Executive Secretary State Universal Basic Education Board (SUBEB) Dr Olukemi Adeosun represented by the Director of Personnel, Mrs Omolara Adegbenjo and Permanent Secretary, Ibadan Zone 1 Barrister Jubril Alaga commended the Executive Governor of Oyo State , His Excellency, Engr Oluseyi Abiodun Makinde for approving the commencement of Contributory Pension Scheme in the state and urged all relevant stakeholders to ensure the successful implementation of the scheme in order to secure better future for all enrollees.
In his welcome address, the Permanent Secretary, Local Government Staff Pension Board TPL Olufemi Akinwale said ” the key areas the training seeks to address is the practical operationalization of the scheme. This includes the preparation and processing of the necessary documentation, enrollment of eligible employees, determination and deductions of pension contributions from salaries, remittance of contributions and a clear understanding of the responsibilities of the various stakeholders throughout the process.
However, he emphasized the commitment of the Board to collaborate with every stakeholders to ensure that the implementation of the scheme is successfully achieved.
The Regional Head of FCMB Pension, Alhaji Kamal Badmus on behalf of the Pension Fund Administrators, highlighted required documents expected from the enrollees which include photocopy of enrollees employment letter, National Identification Number (NIN) slip viz a viz arrangement and spelling of name should be the same, date of birth, a passport photograph with white background and everything must match.
Dignitaries present at the programme include the Permanent Secretary of the State Post Service Board, Reverend Victor Adesola, PENCOM officials, Acting Head of Local Government Administration, Alhaji Musibau Ladele, Directors of Finance and Supplies, Directors of Administration and General Services, Directors of Finance and Account, Pension Fund Administrators, Payroll Officers , Heads of Departments Local Government Staff Pension Board and a host of others.
