By David Akinmola
The Ondo State Pension Commission (OSPEC) has commenced the process of enrolling Rufus Giwa Polytechnic, Owo (RUGIPO), into the Contributory Pension Scheme (CPS) as part of efforts to ensure sustainable pension management and safeguard workers’ retirement benefits.
Speaking during a sensitisation session at the institution on Tuesday, the Director-General of OSPEC, Babatunde Adefusi-Owate, FCA, explained that the scheme was designed to guarantee financial security for public workers after retirement.
“The Contributory Pension Scheme ensures that no worker will retire into hardship again,” Adefusi-Owate said. “This visit is not to compel anyone but to sensitise and prepare you for the eventual transition.”
He noted that under the scheme, both employers and employees contribute to individual pension accounts, which are managed transparently by licensed Pension Fund Administrators (PFAs). “It guarantees that funds deducted from your salary are properly remitted, managed transparently, and invested for your future,” he added.
Adefusi-Owate also disclosed that Governor Lucky Aiyedatiwa had directed OSPEC to develop a digital platform that would allow contributors to monitor their pension accounts online. “The governor has instructed us to create digital websites where contributors can have access to monitor the growth of their contributions,” he said.
In his remarks, the Rector of RUGIPO, Mr. Olorunwa Adegun, represented by the Acting Registrar, Mr. Olugbenga Oloye, lauded OSPEC for the initiative, describing it as timely and beneficial. “The pension reforms are aimed at protecting workers’ future,” Adegun said. “Change is never easy, but it is necessary. This sensitisation is an eye-opener, and we will continue to work closely with the Commission to ensure a smooth transition.”
He acknowledged that past irregularities in salary payments had delayed the institution’s participation in the scheme but said the situation had improved significantly under the current administration. “The governor is doing very well, and we are ready to join the scheme,” he affirmed.
Both parties agreed to work out the modalities for RUGIPO’s formal enlistment into the CPS, with OSPEC pledging full technical support to facilitate the process.
The sensitisation exercise forms part of OSPEC’s broader campaign to deepen awareness and promote compliance with the Contributory Pension Law across tertiary institutions in Ondo State. Adefusi-Owate urged the polytechnic’s management to expedite the onboarding process to enable its workers to begin enjoying the benefits of the reformed pension system.
