Osun Govt Releases Another N1.8bn Bond For Pensioners On CPS

By Ismaeel Uthman

The state Government of Osun has released a sum of N1.8bn bond to retired workers under the Contributory Pension Scheme in the state.

No fewer than 210 civil servants received their bond certificates on Tuesday at the state Secretariat, Abere.

A press release from the Office of the Head of Service, Dr Olowogboyega Oyebade, explained that 171 retired officers and 39 retired workers from the local government would received their bond certificates totaling N1.6bn and N200m respectively.

According to the release, the money has already been deposited with the Central Bank and the Pension Fund Administrators (PFAs) for immediate payment.

Similarly, the government has also released part payment of gratuities to 720 retired public servants under the old scheme.

It would be recalled that the state government had few weeks ago released a sum of N40 million for fresh set of 400 pensioners in the state.

The sum was meant for the payment of pension of 148 retired secondary school teachers, 250 retired civil servants and 2 retired parastatals workers.

Out of the money, a sum of N25m, N14.8m and N200, 000 were to be paid to the retired civil servants, teachers and parastatals workers respectively.

The beneficiaries of the money are the 3rd batch pensioners.