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BRIEF ON THE AGENCY

Bureau of State Pensions (BSP) was established through section 18 (1) of Ogun State Pension Reform Law, 2006 as Amended, and saddled with the responsibilities of proper computation of Pensions and Gratuities of Retirees under the Transitional Pension Scheme (TPS) and ensuring remittance of Pension Deduction for workers that are under the Contributory Pension Scheme (CPS).

Mission of the Agency

  • To ensure blissful and delightful retirement for Officers in the Ogun State Civil/Public Service;
  • To promptly process the payment of terminal benefits of retired Officers;
  • To attend to issues affecting welfare of the Senior Citizens.

Vision of the Agency

To implement, effectively and efficiently, government policies on Pension Administration in the State so that retired Officers can enjoy their retirements without agony and stress.

Types of Pension Schemes in the State

Pension Schemes in Ogun State are broadly divided into two and they are; the Contributory Pension Scheme (CPS) and the Transitional Pension Scheme (TPS).

In Transitional Pension Scheme (TPS), the retirement benefit is stipulated usually as a percentage of average salary and, the last salary received is the function of calculating and computing the retirement benefits.

Pensioners under the Transitional Pension Scheme in Ogun State receive their monthly pension simultaneously with the payment of workers’ salaries. No pensioner in the State is being owed any pension arrears, except those who do not process their retirement papers on time. It is, therefore, commendable to mention that the present Administration of His Excellency, Senator Ibikunle Amosun, CON, FCA, in the State has been paying pensions and gratuities to the retired workers of the State.

In Contributory Pension Scheme (CPS), a Contribution rate is fixed; where an Employee contributes 8.5% of his monthly emolument, the Employer also contributes 10.5% into Reserved Saving Accounts (RSA). The Contributory Pension Reform 2006 emerged as a panacea to the Defined Benefits Scheme (i.e. Pay-As-Go) which was inspired by the National Provident Fund of 1961 and National Social Insurance Trust Fund (NSITF) of 1993; a private sector initiatives.

Staff strength

The Bureau, as at 1st January, 2017, has a total number of Forty- Three (43) senior staff and Seventeen (17) junior staff, totaling Sixty (60) Officers.

DEPARTMENTS

Department of Administration & Supplies/Contributory Pension Scheme

Director:

(Ms.) Adeyemi, A.F.

PHONE: 0803-321-4299

EMAIL:

Duties

  • Manages personnel matters (i.e. issues relating to staff welfare, career progression etc.);
  • Processes incoming mails and follow it up to the final stage;
  • Maintains discipline among the staff in line with the extant rules and regulations guiding the Public Service Ethics;
  • Handles issues relating to the implementation of Contributory Pension Scheme in the State Public Service as well as Valuation of the Benefits of workers for their past services.
  • Monitors the level of performance of the Pension Fund Administrators with respect to investment of pension fund and communicate same to the State workers periodically with a view to guiding them in taking decisions pertaining to their Retirement Savings Account.
  • Looks into the records of self-finance agencies with a view to ensuring that they implement the Contributory Pension Scheme for their staff, as provided in the State Pension Reform Law, 2006 and Ogun State Pension Reform (Amendment) Law, 2013.
  • Reports any observed irregularities on the part of any self-financing agency regarding the implementation of the Contributory Pension Scheme to the Pension Fund Management Committee for necessary action.
  • Liaises with the Bureau of Establishments and Training on drafting of personnel/manpower proposal;
  • Any other tasks assigned to the Department.

Department of Transitional Pension

Director:

Mr. Sonde S. A.

PHONE: 0803-712-3110

EMAIL: sondesobayo@gmail.com

Duties

  • Computes monthly pension and gratuity for intending retirees;
  • Processing of monthly pension and gratuity and forwarding same to the Office of the Auditor-General for proper verification and endorsement;
  • Submission of memo in respect of impending/retired officers to the Office of the Head of Service, through the Permanent Secretary for necessary confirmation and approval;
  • Enlisting retirees into monthly pension payroll (i.e. New Entries) after the Head of Service’s Approval.
  • Processing of apportionment to retired officers
  • Correspondence on Transitional Pension matters
  • Any other tasks assigned to the Department.

Department of Finance and Accounts

Director:

Mrs. Egundeyi O. Oluwatoyin

PHONE: 0803-863-5140

EMAIL: toyinabiona1@yahoo.com

Duties

Accounts Division
  • Preparation of Monthly Pension
  • Preparation and rendition of Gratuity to beneficiaries
  • Personal Emolument
  • Public Expenditure
  • Operation of Bank Account:
  • Disbursement of funds to Pension Fund Administrators (PFAs) on Contributory Pension Scheme;
  • Disbursement of Bulk Release/Running Cost
  • Maintenance of Accounting Records on:
  • Administration of the Bureau
  • Non-Contributory Pension Scheme
  • Contributory Pension Scheme
  • Final Accounts and Reports
  • Clearance of Audit Queries
Budget Division
  • Coordination of Budget Preparation
  • Budget Evaluation
  • Participation in Budget Implementation and
  • Preparation of Budget Reports
Internal Audit Unit:

The Unit handles the following activities in the Bureau:

  • Verification of Vouchers;
  • Checking of Monthly Pension of Retirees;
  • Checking of New Entrant Pensioners;
  • Auditing of the computation of gratuity Pensions;
  • Checking of Salary Reconciliation;
  • Verification of Government Assets;
  • Checking of Pensioners’ Arrears;
  • Auditing of Monthly Bulk Release;
  • Auditing of Re-computation of Pensioners’ Arrears;
  • Passing of Staff Leave Bonus;
  • Auditing of Forms from Accounts Department to Accountant-General’s Office;
  • Any other tasks assigned to the Unit.

Department of Planning, Research and Statistics

Director:

Mr. Owoojuona D. Olufemi

PHONE: 0706-529-4536

EMAIL: oowoojuona@gmail.com

Functions

The functions of the Department include those that are peculiar to Bureau of State Pensions as well as functions highlighted in the Circular Letter of the Ogun State Head of Service Ref. No: HS/C.45/2/3/163 of 17th July, 2006:

Peculiar functions of the Department at the Bureau of State Pensions:
  • Partnering with the Department of Finance & Accounts in the preparation of Annual Budget Proposal/Estimates of the Bureau as well as the Sectoral Medium Term Plan;
  • Coordinating the activities of Pension Records Unit, located at the Staff Development Centre, Oke-Ilewo, Abeokuta. The Unit serves as the Bureau’s depository facility or Archive where all pensioners’ files/documents are kept;
  • Keeping and updating records pertaining to the Bureau as well as the Pensioners;
  • Developing the long, medium and short-term plans of the Bureau. Hence, serving as the link between where the Bureau is and where it wants to be. A bridge between the Bureau’s present and the future, using the instruments of planning, researching and forecasting;
  • Facilitating synergy and harmonization of operations among all Departments in the Bureau, with a view to achieving the goals and objectives of the Bureau;
  • Giving out of Pension Forms to Retiring Officers;
  • Any other duties assigned to the Department.

 

Other functions for creating the Department include:

Planning, Researching and Library Services Unit:
  • Preparation of quarterly and yearly reports of the Agency’s programmes and projects;
  • Monitoring of activities in respect of set targets of the Agency and carrying out effective monitoring and evaluation/appraisal of project, as at when due;
  • Development of Long/Medium and Short-term Plans and Annual Budgets for the efficient performance of the Agency, vis-à-vis tracking of Budget Performance;
  • Identification/Development of all Planning & Statistical Training needs of the Agency;
  • Production and Coordination of data requirements in respect the Agency’s Technical Aids/External Assistance;
  • Impact assessment of project/programmes of the Agency, using the relevant indicators;
  • Research into areas of interest of the Agency with the aim of building a viable Data Bank for reference purposes;
  • Provision of Library Services.
Statistics Information and Communications Technology Unit:
  • Collection, Collation, Analysis, Interpretation and Publication of Information of Policy making;
  • Computerize the activities of the Agency for an efficient Management Information System;
  • Secretariat of the Agency’s Tenders Board;
  • Publication of monthly, quarterly and annual reports of the Agency;
  • Establishment and maintenance of the Agency’s Electronic Database;
  • Create and maintain a database of Suppliers and Contractors of the Agency’s requirement;
  • Collecting user requirements and initiating ideas for software development;
  • Recommendation of information system gadgets and services;
  • Sales of Statistical Publication.

 

OTHER INFORMATION

CURRENT PROGRAMS

  • Prompt payment of monthly pensions;
  • Payment of outstanding gratuity arrears from July 2012 to January, 2014;

ONGOING PROJECT(S)

  • Synergy with National Pension Commission towards achieving the goals of Contributory Pension Scheme in the State;
  • Monitoring and coordinating of Pension Fund Administrators {PFAs} activities operating in the state;

PROPOSED PROJECT(S)

  • Captivating Group Life Insurance for all employees under Contributory Pension Scheme;
  • Provision of adequate computers to staff of the Bureau for keeping an up-to-date records;
  • Provision of Intranet and Internet facilities for transfer of data/reports amongst the Staff of the Bureau and the Public (when necessary)
  • Biometric capturing of all pensioners.

OTHER RELEVANT DATA/STATISTICS

  • Issuance of Bond Certificates on Verified and correct values in respect of past services;
  • Composition of Contributory Pension Fund Management committee;
  • The need to switch from manual pension files processing to e-processing as to uplift the operating system and as well meet up with modern day technology which will totally eradicate the bottleneck/long term delay in processing of pension files; &
  • Payment of various outstanding in other to ensure smooth running of the State Bureau’s operation.
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