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Lagos Govt pays N1.128bn to 438 retirees

sanwo Olu budget

Lagos Govt pays N1.128bn to 438 retirees

The Lagos State government on Friday said it had paid N1.128 billion, representing the accrued pensions of 438 retirees and their contributions for April.

The Commissioner for Establishments, Training and Pension, Mrs Ajibola Ponnle, confirmed this at the 93rd Retirement Bond Certificate presentation to retirees of the Lagos State Public Service organised by the Lagos State Pension Commission (LASPEC) in Lagos.

Ponnle added that the state government had paid accrued pension of N39 billion to 10,380 retirees of the state from May 2019 till date.

She said: “The state government is committed to the welfare and interest of pensioners in the Lagos State public service and has continually prioritised the prompt payment of its pension obligations within the available resources.

“Despite the huge liabilities faced in running our dear state, the present administration has ensured the prompt payment of pension entitlements to retirees under the Pay As You Go Pension Scheme monthly.

“LASPEC ensures the payment of accrued pension rights to retirees under the Contributory Pension Scheme (CPS) to enable timely access to their RSA’s.”

The commissioner advised the retirees to embrace the joy and challenges of their new phase of life, following their successful retirement.

She charged the pensioners not to hesitate to contact LASPEC or even the Ministry of Establishments, Training and Pensions, should they require clarifications or advice regarding the modalities for retirement benefit.

“I congratulate every retiree present and wish you all the best. I pray that God will give you good health to enjoy your benefits,” Ponnle said.

The Director-General of LASPEC, Mr Babalola Obilana, said the state had been consistent with the implementation of the CPS in line with the provisions of the Lagos State Pension Reform Law of March 19, 2007, now amended.

Obilana commended the commitment of Gov. Babajide Sanwo-Olu to the effective administration of the CPS in Lagos State.

He said one of the outcomes of the governor’s commitment was the regular issuance of the Retirement Benefit Bond Certificates to retirees.

He said: “I must also appreciate the unflinching support of the Commissioner for Establishments, Training and Pensions, the state’s approved Pension Fund Administrators (PFAs) and the efforts of the Annuity Service Providers in ensuring that all our retirees have unrestrained access to their pensions.”

Obilana charged retirees to beware of any individual or association who claimed to be affiliated with the state government to process or fast track their pension entitlements for a fee.

He said: “LASPEC staff will not collect a kobo from you so please direct all enquiries to LASPEC via our website or our official phone lines which can be found on our website or the fliers given to you.

“I enjoin you all to take very good care of yourselves and implore you to desist from irrelevant spending.”

The retirees lauded the state government for its effort to improve the welfare  of pensioners.

They, however, charged the government to fast track payment of the accrued pension towards clearing the backlogs. (NAN)

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