The Governor of the State of Osun, Mr Adegboyega Oyetola, has approved the release of the sum of One Billion, Two hundred million Naira to offset pension arrears of retired officers of State of Osun civil service.
In a press release signed by the Head of Service, Mr Festus Olowogboyega Oyebade, the sum of Five Hundred and Eight Million Naira of the total sum was approved to pay the pensions of retired civil servants while an additional sum of One Hundred and Fifty Million Naira was approved to pay retirees under the contributory pensions scheme based on merit and Five Hundred and Forty-Nine Million, Two hundred and Seventy-Six Thousand for Primary School Teachers and Local Government Retirees.
He added that additional Fifty Million Naira was approved for the part payment of the gratuities of retired officers under the old pensions scheme.
According to the release, the list of beneficiaries selected on merit has been pasted on the notice boards of the Ministry of Information and Civic Orientation, the State’s Pension Bureau, and the Office of the Head of Service.
It was also stated that payment of the approved funds will commence Wednesday, 11th November, 2020.