Ogun State Government has disclosed that it pays retired teachers under the State Universal Basic Education Board and retired local government workers, over N791m as monthly pensions.
The Permanent Secretary in the Bureau of State Pensions, Irene Kokumo, said the State Transition Pension Scheme presently caters for a total of 11,616 retirees in the PRE-1991 category.
Kokumo made this claim on Thursday, while playing host to members of the state House of Assembly Committee on Local Government and Chieftaincy Affairs. The committee was led by Akeem Balogun during an ongoing 2019 budget performance appraisal visit to the bureau at Oke-Mosan, Abeokuta.
The Permanent Secretary explained that the bureau had been effectively managing the defined benefits scheme also known as “Pay as you Go” and that of the contributory pension scheme.
She clarified that the bureau’s primary responsibility was that of the pre 1991 retirees, which she said consisted of teaching and non-teaching retirees of SUBEB; the local government and those officials that are still in active service.
She maintained that the bureau had been facilitating prompt release of savings account balance to retirees who were hitherto disengaged from contributory pension scheme with a view to making life more meaningful for the senior citizens.