Ogun Retirees Protest Over Pension Hardship, Seek CPS Postponement

Ogun Retirees Protest Over Pension Hardship, Seek CPS Postponement

Association of New Ogun State Civil and Public Service Retirees protested at the Governor’s Office in Abeokuta.

They demanded a postponement of the Contributory Pension Scheme (CPS), citing severe hardship and lack of preparation. The group argued that the policy change has left them financially vulnerable and unable to survive.

The retirees, who left service starting July 2, 2025, claimed their Retirement Savings Accounts (RSA) are grossly underfunded.

They noted that the current balances are insufficient to sustain them given the country’s economic realities. Many expressed frustration that the funds available are only a small fraction of what is needed for a stable retirement.

Spokesperson Omopariola Oluwole highlighted the emotional and financial trauma caused by the sudden drop in income.

He explained that those previously earning high salaries are now expected to live on meager monthly payments. This disparity has left many senior citizens unable to meet basic obligations, leading to public ridicule and distress.

Regarding the financial gap, Oluwole stated: “We are here to plead with him that this issue of CPS should be shifted forward to a convenient time when all indices concerning it have been put in place. We realize that some amount of money were deposited in our RSA account but, it’s not what we are expected to have in our account.

By now our RSA account should be nothing less than 50 million and above, but what we have is around 10 million to 11million.”

While acknowledging the policy began in 2008, the protesters urged Governor Dapo Abiodun to revert them to the Defined Benefit Scheme.

They requested regular monthly pensions and gratuities while the government addresses the flaws in the CPS. They appealed for mercy, noting they had planned their futures around the old system.

Mrs. Arinola Adetayo, Permanent Secretary of the Ogun Bureau of Pensions, addressed the crowd and promised to relay their demands to the Governor. She assured the retirees that the administration is attentive to their concerns. The Bureau and the Head of Service are expected to review the agitations and provide a formal response.