The Local Government Staff Pension Board was established by the Oyo State Government vide regulation (4) of the Local Government Staff Pension (Pension Fund) regulation of 1961 W.N.G.N. 31 of 1962. Published as supplement to W.N. Gazattee No. 9 Vol. II of February, 1962.
Date of commencement: 26th September, 1961.
The board is responsible for the processing and payment of retirement benefits to all Local Governments Employees in Oyo State.
By virtue of Decree No. 3 of 1991, the payment of pension and gratuities of Primary School Teachers became the responsility of the Local Government Staff Pension Board and take effects from 1994.