The Ogun State Government under the leadership of Prince Dapo Abiodun, has brought succor to the lives of pensioners, who retired from the Civil Service from July 2nd 2025, when the Contributory Pension Scheme (CPS) became fully operational, by introducing Additional Pension Benefits to alleviate the fear of the retirees.

Permanent Secretary, Bureau of State Pensions, Mrs. Arinola Adetayo, disclosed this at A-day Public Enlightenment Programme, organised for the Pensioners on the Operation of the Contributory Pensions Scheme at Oba's Complex, Oke-Mosan, Abeokuta.

The State Pensions Boss explained that Additional Pension Benefits (APD) was a pay-off payment that seeks to bridge the gap and cushion the effects identified between the Contributing Pension Scheme (CPS) and the Defined Benefits Scheme (DBS).

 "It is a sustainable method designed to prevent pension crises and strengthen confidence in the Contributory Pension Scheme (CPS), this benefit will be calculated using a graded percentage of a retirees Final Annual Emolument (TAE) based on years of service.

Also, retirees will receive between 116 percent and 280 percent of their final annual emoluments as an additional benefit, depending on the length of service and the payment will be made directly to retirees account at the point of exit,’’ she said.

Also speaking, a resource person, Professor of Aging and Retirement, Prof. Tope Omotayo, from Tai Solarin University of Education, enlightened participants that necessary documents must be properly kept for the process of the retirement benefits, advising them to live within their means and make use of the Additional Pension Benefits judiciously.

In his address, a former Permanent Secretary in the State, Mr. Adekunle Adegbite, appreciated the State Government for introducing the Additional Pension Benefits to the retirees to relieve the fear of retirement, saying Ogun State would be the first to do this in Nigeria.

Similarly, a representative of Pension Funds Administration (PFAs), Mr. Ismael Salau, said CPS was a secured programme, adding that there were two options for the retirees to get their monthly pensions, which includes; the Annuity and Programme withdrawal.

While explaining the options, he said Annuity refers to a situation where Insurance Company would be paying them monthly pensions while Programme Withdrawal is where the Pension Funds Administration would be paying them monthly pensions.

Contributing, Permanent Secretary, Bureau of Local Government Pensions, Engr. Olufisan Osiyale, said Ogun State was the first to introduce the APB, urging those that were present at the programme to enlighten those that were absent.

Some of the participants, Mr. Sorinmade Alani and Mr. Awoyemi Owolabi, appreciated the Government for the efforts being made to make life more meaningful for the senior citizens, promising to enlighten those that were not present at the programme.