Pension

Lagos State pays N1.5bn to 333 retirees

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Mrs Onanuga

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Chuks Udo Okonta

The Lagos State Government through Lagos State Pension Commission (LASPEC) has paid another set of 333 retirees/beneficiaries from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other parastatals of Government the sum of N1. 5b for the Month of October, 2016.

A statement by Mrs Ajoke Lawal of Public Affairs Unit, LASPEC, noted that the Director-General of the Commission, Mrs. Folashade Onanuga said since monthly payment of accrued pension rights started in August, 2015, the administration has been able to pay the cumulative sum of N20.98b, to a total number of 4,799 retirees under the Contributory Pension Scheme in the last fifteen months.

Speaking further at the 32nd Retirement Benefit Bond Presentation Ceremony, which took place at the Office Premises on Monday, 31st, October, 2016, she stated that the payment of accrued pension rights is structured in such a way that, one does not need to know anyone before he or she could be paid.

She also advised them to put their money in ventures they canmanage, and not one that will put their health in jeopardy.

She said, apart from the commitment to paying the entitlements of the retirees, His Excellency, the Governor of Lagos State, Akinwunmi Ambode, is also very much interested in the well-being of the retirees, and hence a One-day retirees’ interaction with His Excellency will be held soon. This forum, will be the first of its kind in Lagos State as well as in Nigeria at large is tagged “Retirees Day-Out with His Excellency” and the first outing will take place early inthe New year.

It is a sort of “feedback mechanism” that allows retirees to let Government know their challenges and how the State government could intervene to assist, how the Pension Fund Administrators and Annuity Service providers are treating them, how they are fairing, amongst others.

The retirees, having heard about this development, were very quick to be of praises to His Excellency and prayed that God will continue to support him.

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