Pension: Ondo Govt Assures Workers Of A Financially Secured Future


… DG, State Pension Commission, Babatunde Adefusi-Owate puts together a New Pension Plan for the Informal Sector

… Seeks Ondo Assembly Support

Ondo State Government has reiterated its firm commitment to the welfare of civil servants in the state.

The Director General of the Pensions Commission in the State, Mr. Babatunde Adefusi- Owate disclosed this while playing host to the State Assembly Committee on Human Capital Development.

Mr Adefusi-Owate who informed the Committee who were on familiarisation visit to the commission led by Hon. Olatunji Oshati, that as a testament to Governor Arakunrin Oluwarotimi Akerdolu’s commitment towards the state REDEEMED agenda, Ondo State is one of the states in the country that the pension remittance is up to date and a valid group life assurance policy for all workers on the Contributory Pension Scheme in State.

The State Pencom DG also intimated the Assembly Committee Members about the missions as well operations of the commission which centered majorly on the  security of financial well-being of our workers noted that it’s duty of the commission to ensure workers years of hard work are rewarded with financial security and peace of mind after sacrificing personal aspirations for the collective good as the commission will monitor diligently pension fund administrators that manage pension funds, ensuring their growth of these funds, and disbursing them efficiently to those who have earned them.

Mr Babatunde Adefusi-Owate explained further that, the commission is putting plans together on a number of initiatives in the pension scheme which include Micro Pension Plan that will enable those in the informal sector to secure their future financially. He also stated that another pension plan for Members of the House of Assembly is underway.

The State Pencom DG believed that the visit will herald a remarkable stride in fostering transparency, cooperation, and a shared vision for a dignified post-retirement life for our workers.

Meanwhile, the Chairman of the State Assembly Committee on Human Capital Development Hon. Olatunji Oshati who led others members commended the Pension commission’s DG for giant stride recorded within the short period of his appointment. The Committee Chairman therefore noted that all hands must be on deck to ensure that retirees receive their gratuities and pension as at when due.

He also said that welfare of Pensioners should be the utmost priority as all bottle neck hindering the smooth process of pensions and gratuities for workers should be addressed immediately.

Hon Olatunji Oshati thereafter vowed that the State Assembly will give its necessary and needed legislative backing for the State Pensions Commission to achieve its mandate seamlessly.

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