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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.

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Our Vision

Our Vision

[fancy_heading h1=”0″ icon=”” style=”line”]To have effective and efficient Pension Board in order to be the pacesetter in Pension Administration in Nigeria in terms of service delivery, enabling environment and partnership with stakeholders.[/fancy_heading]

Our Mission

Our Mission

Adopting effective and efficient coordinating mechanism and innovative strategies in processing and payment of terminal benefits to retirees Viz:

  • Prompt and adequate payment of pension and gratuities to the pensioners/retirees.
  • Receive fund and make payment to pensioners.
  • Ensure adequate record keeping and comprehensive pension records.
  • Rending of periodic report on the status of the Board on contributions and remittances.
  • Capacity building for the Pension Desk Officers, retiring officers and retirees.

Our Objectives

Our Objectives

  • Repositioning of Public Service away from poor service delivery as a result of rigidity to the old order.
  • Infusing into the Public Service relevant good management
  • Ensuring that Civil Servants are better equipped to cope with the modern trend in governance and emerging needs.
  • Blocking all the leakages/wastages/loopholes in the course of conducting government business with a view to reducing the cost of
  • Entrenching a new vision geared towards closing critical professional and management skill gap in the service.
  • Identifying how best the Public Service can leverage on the expertise, comparative advantage and core competencies of the private sector to improve service delivery.

Contacts

Contacts

Email: igspb@yahoo.com

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PROFILE

The Oyo State Local Government Staff Pension Board was established under Regulation 4 of the Local Government Service (Pension Fund) Regulation 1961; Edict No. 10 of 1991 entitled the Local Government amendment Edict and Cap 78 of the Laws of Oyo State 2000.

The Board is headed by the Executive Chairman. Other members of the Board include the Permanent Secretaries of the Ministry of Local Government and Chieftaincy Matters, Establishment and Finance as well as the representative of ALGON and representative of NULGE. The Secretariat is headed by the Secretary. Organogram of Oyo State Local Government Staff Pension Board attached.

OPERATIONS AND ADMINISTRATION

  • Receipt of evidence of payment and completed pension  documents together with credentials both originals and  duplicates and personal files from the retiring officer.
  • Opening of file and assignment of Identification/File No. to the retiring officer by the relevant Desk Officers.
  • Computation of Terminal Benefit for onward transmission to the office of Auditor-General for Local Government for  verification and certification by the Desk Officers.
  • Final approval of the duly verified and certified computations by the Deputy Secretary.
  • Issuance of Pension Certificate by the Secretary.
  • Placement of retiree on payroll by the Treasurer of the Board upon due approval in case of retired primary school teachers and respective Local Government in the case of retired Local Government employees.
  • Internal control through prepayment cheque by the Internal Auditor and Director of Budget.
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