Ondo State Governor, Oluwarotimi Akeredolu, has given the green light for an increase in pension allowances for retirees in the state. The approval was announced by the state’s Head of Service, Mr. Kayode Ogundele, during a meeting in his office in the state capital, Akure, yesterday.
The increase is in line with the consequential adjustment that arose from the implementation of the national minimum wage in 2019 across the country. Mr. Ogundele stated that the approval will benefit retirees who retired before January 1, 2020, which is the effective date of the current minimum wage regime.
This move by the governor is expected to provide some relief to pensioners who have been struggling to make ends meet due to the high cost of living. The increase in pension allowances will help to alleviate their financial burdens and improve their standard of living.