Lecturers in Osun State owned tertiary institution, which includes polytechnics and colleges of education have asked governor Rauf Aregbesola to put the contributory pension scheme on hold and reverse to the old pension scheme for them.

The Council of Academic Staff Unions of Osun State Owned Tertiary Institutions said this in a letter written to the governor and a copy of which was made available to our correspondent in Osogbo on Thursday.

The letter, dated October 7, was  jointly signed by the CASUOSTI Chairman, Lasisi Jimoh; secretary, Olusegun Lana; Chairman Academic Staff Union of Polytechnic, Iree, Dotun Omisore; ASUP chairman, Esa Oke, Adesola Akande; COEASU Ila-Orangun Chairman, Segun Onifade and COEASU Ilesa Chairman, Oladele Ojo.

The lecturers stated that it would be unwise to continue with the CPS because government had failed to remit pension deductions from their salaries to their individual pension fund administrators.

They also said the gain intended with the introduction of the CPS has failed because of non-remittance of pension deductions. Also, they said the state government had failed to pay its own part, which is seven and a half per cent of individual monthly salaries.

The lecturers also asked the governor to release all deductions made from salaries, saying repayment of bank loans taken by individuals were deducted without remitting the fund to the banks.

"That in the interest of all concerned, Mr Governor should direct immediate suspension of the CPS and deactivation of the old defined scheme, at least for workers of the state owned tertiary institutions.

”It is note worthy that members of the Ladoke Akintola University Teaching Hospital are not under the scheme. It is also remarkable that even the Federal Government at a point, excluded some agencies initially captured under the CSP from the scheme like the Nigerian Army, judges, Directorate of State Security,” the statement read.