Osun government releases N1.2 billion to pay gratuity ‎

Osun State Government has released N1billion to 142 beneficiaries ‎of Contributory Pension Scheme and N200 million to settle part of the outstanding gratuities of the 2011/2012 retirees.

The state government also said that all retirees from Local Governments, Elementary Schools and Middle Schools that they will have their entitlements settled on instalments from Monday next week.

The Media Adviser to the Governor, Mr Sola Fasure who disclosed this while briefing journalists on the outcome of the weekly Executive Council Meeting Osogbo said bond certificates will be presented to the benefiting retirees who are selected on a "first come, first served" basis, beginning from January 2 to May 4, 2016.

He said the retirees that would benefit from the fund release from the Contributory Pension Scheme include: 100 high school teachers, 30 retirees from Ministries, Departments and Agencies of Government (MDAs) and 12 from government parastatals.

He explained further that another 2,006 of the 2011/2912 retirees will benefit from N200 million just released to settle part of their outstanding gratuities and they will each will receive N100,000, also on "first come, first served" basis.

According to him "Council received report that N1 billion has been released to 142 beneficiaries of Contributory Pension Scheme by the state government. These are 100 high school teachers, 30 retirees from Ministries, Departments and Agencies of Government and 12 from parastatals.

"Bond certificate will be presented to the beneficiaries in two weeks as beneficiaries are selected on a 'first come, first served' basis, beginning from January 2 to May 4, 2016.

"The State Government has also released N200 million to settle part of the outstanding gratuities of 2011/2012 retirees while the 2,006 beneficiaries will each receive N100,000,also on 'first come, first served' basis

"These beneficiaries consist of 108 high school teachers‎, 704 civil servants and 501 from parastatals as payment will commence on Monday February 26, 2018.

"The council also notify all retirees from Local Governments, Elementary schools and Middle Schools that they will have their entitlements settled on instalments from Monday February 26, 2018 while the beneficiaries will as well be selected on 'first come, first served' basis as the list of beneficiaries will be displayed on notice boards at the Ministry of Information and Strategy and Local Government Pensions Board".