OGUN STATE LAUNCHES ENHANCED PENSION SCHEME
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By: Muftau Fatimo
The Ogun State Government has unveiled a new pension initiative designed to boost retirement benefits for workers under the contributory pension scheme.
The announcement was made via a statement on the state government’s official X handle.
The scheme, titled the Additional Pension Benefit, is set to enable retirees to receive between 116% and 280% of their total annual emoluments, surpassing the federal benchmark.
Governor Dapo Abiodun stated that the reform aims to enhance pension payments and improve the welfare of retirees in the state.
“The reform will ensure timely and increased payments, with many retirees set to receive higher benefits than under the previous system,” he said.
He further explained that the scheme features a one-off lump sum payment in addition to full pension contributions, which is expected to boost monthly pensions for beneficiaries.
The government also noted that a significant portion of pension backlogs has been cleared, emphasizing that retirees’ welfare remains a top priority.
Stakeholders have described the initiative as a sustainable measure to strengthen retirement security in Ogun State.
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