Pension Scheme – The staff of Ekiti State University (EKSU) have been advised to seize the opportunity to save, manage and review their pension accounts while they are still in service. The Vice-Chancellor of the University Professor Samuel Oye Bandele gave the advice during an interactive session between EKSU staff and Legacy Pension Managers Limited (PFA), the assigned Pension Managers for Ekiti State University.
The Vice-Chancellor said that the interactive session was in anticipation of the commencement of the new Contributory Pension Scheme (CPS) in Ekiti State and enjoined staff at the session to ask necessary questions and fully participate in the interactive session. The Vice-Chancellor was represented by the Deputy Vice-Chancellor Academic, Prof. O.B Ajayi.
The representative of the organisation, Mr. Adewale Fagbemiro gave the lecture and he stated the mission, vision and core values of the organisation and the advantages staff of the University will gain by partnering with them. He further stated the differences between the old defined benefit scheme otherwise known as Pay as You Go and the new Pension Reform Act that was passed into law by the Federal Government of Nigeria in 2004.
He further emphasized that the organisation has gone far in technology as staff can access and monitor their funds and the amount of money that goes into their Pension Funds account on a monthly basis.
The University Bursar, Mr. Amos Tayo Taiwo who was at the occasion, explained the benefits of the scheme and advised all staff to key into it.