Governor Adegboyega Oyetola of the State of Osun has approved the release of N708 million to offset pension arrears of retired civil servants in the state.
The state Head of Service (HoS), Mr Festus Olowogboyega, disclosed in a statement on Tuesday in Osogbo that N508 million was approved for the payment of pension of retired civil servants, while N150 million was approved to pay retirees under the contributory pension scheme based on merit.
He added that additional N50 Million was approved for the part payment of the gratuities of retired officers under the old pensions scheme.
The HoS added that payment of the approved funds will commence Thursday, 5th November, 2020.
Furthermore, he said the list of beneficiaries selected on merit had 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.
“Governor Adegboyega Oyetola assures all workers, both serving and retired that all efforts will be mustered to always give their welfare the pride of place it deserves”, he concluded.