ONDO STATE
PENSION COMMISSION
PENSION COMMISSION
Ifeyinti d'rorun
The Ondo State Pension Commission (OSPEC) is the statutory body established to regulate, supervise and administer the Contributory Pension Scheme (CPS) for public sector employees in Ondo State, in line with the Pension Reform Law of Ondo State.
Since inception, OSPEC has been at the forefront of pension reform in the State, working to ensure that every worker retires into a dignified, financially secure future through prudent management of pension contributions and assets.
OSPEC operates with a clear commitment to transparency, accountability and the timely payment of retirement benefits to pensioners across the State's Ministries, Departments and Agencies (MDAs).
The principles that guide every decision the Commission makes on behalf of contributors and pensioners.
To efficiently administer the Contributory Pension Scheme in Ondo State through transparent processes, prudent fund management, and prompt payment of retirement benefits.
To be the leading State Pension Commission in Nigeria, recognised for excellence, integrity and the financial security it provides for workers and pensioners.
To regulate, supervise and ensure compliance with the Contributory Pension Scheme by all Ministries, Departments and Agencies of Ondo State Government, as prescribed by law.
Key milestones in the establishment and growth of the Commission.
The Ondo State Government enacted the Pension Reform Law, establishing the Contributory Pension Scheme for public sector workers in the State.
The Ondo State Pension Commission (OSPEC) was formally inaugurated and commenced registration of contributors across State MDAs.
OSPEC extended registration to Local Government employees and began issuing Retirement Savings Account (RSA) numbers at scale.
The Commission began a comprehensive digitisation of contributor records and pension processes to improve efficiency and transparency.
OSPEC commenced implementation of a modern Pension Fund Management Software (PFMS) to further automate contributions, benefits and reporting.
The values that shape how OSPEC serves contributors, pensioners and the people of Ondo State.
Upholding honesty and ethical standards in the management of pension funds.
Open, accountable processes that contributors and pensioners can trust.
Prompt, reliable service delivery in every aspect of pension administration.
Putting the welfare and dignity of workers and pensioners at the centre of all we do.
OSPEC's establishment and operations are anchored on clear legislative backing, ensuring accountability at every stage of pension administration.
These instruments guide how contributions are collected, invested, reported on, and ultimately paid out to pensioners across Ondo State.
The overarching federal legislation establishing the Contributory Pension Scheme in Nigeria.
The State law establishing OSPEC and domesticating the Contributory Pension Scheme for Ondo State workers.
Operational guidelines issued by the National Pension Commission (PenCom) that OSPEC aligns its practices with.
Meet the Board of Trustees and Management team responsible for guiding OSPEC's mandate.