The President of the Adeyemi College of Education Staff No1 Cooperative Multipurpose Society Limited, Mr. Razak Busari, has said that the introduction of the Cooperative Pension Scheme has helped in cushioning the harrowing effect of immediate hardship of post retirement life on members.
Busari stated this on Thursday when he addressed a news conference as part of activities marking the 25th anniversary of the society.
He had earlier in the day led other members of his executives to pay a courtesy visit on the school's management where they were received by the Provost, Prof. Adeyemi Idowu.
He said the scheme started in 2007 when a committee was set up to look into ways by which members of the society and non- members would be financially comfortable even after retirement.
He said the committee came out with some recommendations which encouraged members and non-members alike to key into having a saving scheme that will involve saving certain percentage of their earnings through a pension scheme designed by the cooperative society.
He said, "The People have keyed into the system. We are living witnesses to cases whereby our people after retirement at their old ages, were being forced to go for one screening or the other.