Pension: Lagos State Pays N1.029bn To 291 Retirees

The Lagos State Government has credited the Retirement Savings Accounts (RSA) of 291 retirees with the sum of N1.029billion as pension rights.

The Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, made the disclosure at the 89th Monthly Bond Presentation ceremony of the Lagos State Government held recently at the NECA House Auditorium, Alausa.

The Director-General, represented by the Executive Director, Finance and Investment, Mr. Olumuyiwa Oshin, said: “Our amiable Governor, Mr. Babajide Sanwo-Olu, has demonstrated an unwavering commitment to the welfare of retirees. The government will, within its capacity, keep putting smiles on the faces of pensioners in the State Civil Service under the discontinued Defined Benefit Scheme”.

He appreciated the persistent support of the Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, especially in creating and approving initiatives to ensure that the retirees are well-engaged after service.

While acknowledging the challenges that retirees may face, Obilana gave assurance that Governor Sanwo-Olu’s administration will continue to work tirelessly in order to pay all accrued rights as and when due.

“The present administration is fully committed to the wellbeing of retirees. Mr. Governor is working hard to ensure that retirees are paid their accrued rights upon retirement from service. This is in line with the State government’s commitment to clearing all backlogs of accrued rights as soon as possible”, he asserted.

Mrs. Adesumbo Abolarin, a retiree, expressed deep gratitude to the Governor, the leadership of the Ministry of Establishments, Training and Pensions as well as the management of LASPEC for their efforts on the prompt payment of pensions.

“My advice to staff still in active service is to ensure that they have proper documentation before retirement as this helps in ensuring that their pension funds are paid swiftly”, she said.