The Directorate of pension, now under the office of the Vice-chancellor, used to be part of the Academic Staff Personnel and Pension Matters (ASP.P&M) in the Registry. The unit which was carved out of carved out of the defunct Personnel Division in the year 2003 later gave birth to the Directorate of Pension.
In accordance with the relevant statutory rules and regulations of the Federal Government of Nigeria, a Board of Trustee, i.e “Pension Board Of Trustee” (PBOT) for the University of Agriculture Abeokuta Pension & Gratuity Scheme has been established since 1997.
The Board of Trustee for Pension administration now has its administrative office in the Directorate of Pension (or the Pension Office). While the Board of Trustees for pension Administration, comprising of nine (12) members including a Chairman and Secretary and other representatives of stakeholders coordinates and oversees the administration of pension matters of the University, the Directorate of Pension- the administrative office- acts as the secretariat for the Board; and assists the Board of Trustees in the day-to-day administration of the University Pension & Gratuity Scheme. The Directorate perform all Secretariat/Administrative functions, including: custodian of records; liaison with external bodies/establishments; and attending to all statutory matters like the Board meetings, and other ad hoc committees that come up from time- to- time and as the need arises. And primarily, the Directorate facilitates the processes for the payment of pension and gratuity claims of the retirees (pensioners), and attends to any matter that arises relating to this function on daily basis. It is also saddled with coordinating role in the new Contributory Pension Scheme, i.e Pension Reforms Act 2004.