Ogun Releases N6.75bn for Gratuity, Additional Pension Benefits
The Ogun government has released N6.75 billion for the payment of gratuity and Additional Pension Benefits (APB) to retirees in the state.
The Head of Service, Mr Olanrewaju Saka, disclosed this in a statement issued on Friday in Abeokuta.
According to him, this is in the government’s efforts to offset outstanding pension obligations and improve the welfare of retired workers.
He said that N2.751 billion was released for the payment of gratuity to 432 beneficiaries, while N4 billion was released as APB to eligible retirees from July 2025 to date.
Saka said that the government remains committed to ensuring that workers who served the state meritoriously receive their retirement benefits in spite of competing demands on its resources.
“APB was introduced to cushion the difference between the pension benefits retirees would have received under the old Defined Benefit Scheme (DBS) and those payable under the Contributory Pension Scheme (CPS).
“Although workers under the CPS have retirement savings in their Retirement Savings Accounts (RSAs), some retirees could receive lower benefits than they would have been entitled to under the former scheme.
“The APB, therefore, provides an additional payment from the state government to eligible retirees to bridge part of that gap,” he said.
The Saka stressed that the APB was separate from funds in retirees’ RSAs and did not reduce the savings accumulated in the accounts.
He said that the latest release demonstrated the administration’s commitment to improving the financial security and welfare of retirees.
The Head of Service added that the government would continue to address outstanding pension and gratuity obligations in a systematic and sustainable manner.
He assured retirees that the government would maintain transparency and engagement in the administration of retirement benefits.
Saka also urged serving public officers to ensure that their pension records and documentation were accurate and up to date.
He also reaffirmed the commitment of the Gov. Dapo Abiodun-led administration to build a pension system that would enable public servants to approach retirement with greater confidence and security. #Ogun Releases N6.75bn for Gratuity, Additional Pension Benefits# GCR Upgrades Ogun State Issuer Rating to A/A1, Outlook Stable
