Oyo State Governor, Seyi Makinde, has reinforced his administration’s dedication to pensioners’ welfare by authorizing the release of N550 million for gratuities and death benefits to a new group of retirees and the next of kin of deceased pensioners.
The Chairman of the Oyo State Local Government Staff Pension Board, Akeem Ige, made the announcement on Tuesday during the flag-off ceremony for the monthly disbursement of entitlements to beneficiaries.
According to Ige, the government introduced the monthly payment system to fast-track the disbursement process and improve the well-being of retirees.
“The government has approved N550 million for the payment of gratuities and death benefits to another batch of retirees and the next of kin of deceased pensioners. This month, 134 beneficiaries are set to receive their entitlements,” he stated.
He further highlighted the recent pension review, which now aligns with the minimum wage adjustment, setting the minimum pension payment in the state at N25,000.
Additionally, the Permanent Secretary of the Local Government Staff Pension Board, Lukman Muraina, announced plans to launch the “I Am Alive” programme, a verification initiative aimed at confirming the status of retirees.
The exercise is scheduled to begin after the completion of the monthly gratuity payments.
