Lagos State pays N1, 075bn to 301 retirees


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Chuks Udo Okonta

The Governor of Lagos State, Akinwunmi Ambode, has once again, delighted Pensioners in the State Public Service, inclusive of Local Government and SUBEB by releasing the sum of N1,075 billion into the Retirement Savings Account (RSA) of 301 Contributory Pension Scheme (CPS) retirees in the month of November.

The Governor who was represented by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson Oke at the 45th Retirement Benefit Bond Certificate Presentation Ceremony on Wednesday, 29th November, 2017 in Ikeja, thanked the retirees for their services which have resulted in a better Lagos. He stated that he had interest in the well being of the retirees; hence Government is in the process of providing Pensioner’s ID cards that will enable the retirees enjoy some benefits which hitherto they would have paid for.

Dr. Akintola said that this administration, through Lagos State Pension Commission (LASPEC) has been able to disburse more than N32 billion in form of accrued pension rights to 7,976 retirees (August 2015 – November, 2017). An achievement other States would wish to attain. He also confirmed that Pensioners under the Pay-As-You-Go scheme receive their monthly pensions the same time active workers receive their salaries.

Director-General, LASPEC, Mrs. Folashade Onanuga, admonished the retirees, on the importance of healthy living in so that they will enjoy their life in retirement. She also advised that they should make decisions themselves on either to receive their pension entitlement through the Life Annuity or Programmed Withdrawal options. She advised them to critically study the educative materials on the two options and make decisions that they are comfortable with.

In appreciation, one of the retirees, Adebayo Musiliu Olayinka prayed for the Governor, Mr. Akinwunmi Ambode and affirmatively said, his 2nd term in office is sure. He praised the staff of the Commission for their diligence.

In the same vein, Mrs. Olufunke Atitebi observed that there is a ‘big’ difference in the trend and manner Lagos retirees get their entitlements in the administration of Governor Ambode compared to what obtained before he came on board.

The monthly payment has made Lagos state to stand out. She implored Ambode to keep up the good work and prayed that God will continue to uphold and assist him in governance.

As Oliver Twist, she said the government should find a way of assisting retirees and their families. She specifically said the State’s Government should give priority to recruiting children of retirees in the State’s service.

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