Lagos pays N1.002bn to 275 retirees


Mrs Onanuga

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Chuks Udo Okonta

The Lagos State government has issued Retirement Benefit Bond Certificates to the tune of N1.002, 856 billion to another set of 275 retirees from the Mainstream, Local Government, SUBEB, TEPO and Parastatals of Government, under the Contributory Pension Scheme (CPS) for the Month of May, 2016.

A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) said the payment has brought the number of retirees paid between August 2015 to May, 2016 to 3,344, adding that that the total accrued Pension rights for years, spent under the Pay As You Go pension scheme paid on behalf of retirees by the State Government from the aforementioned month to date is N14. 703, 856 billion.

The Director-General, LASPEC, Mrs. Folashade Onanuga disclosed this while speaking at the 27th batch Retirement Benefit Bond Certificate Presentation Ceremony held between Tuesday, 31st May and Wednesday, 1st June, 2016 at the Office premises, NECA House, Alausa, Ikeja.

Mrs Onanuga, who was represented by the Head of Technical Directorate, LASPEC, Mr Olawale Otun advised the retirees/beneficiaries to make judicious use of the money being presented, because, this turns it to assets.

He was also happy to inform the retirees that the activity of the Pension Fraudsters who always put calls through to retirees, informing them of alleged short payments in their entitlements has been reduced drastically, due to the steps the Commission took in terms of sensitization. Nonetheless, “you still have to be vigilant and smart” he concluded.

In appreciation, the enthusiastic retirees wished the administration the best as it continues to take Lagos to a higher level.

In another development, the Lagos State Pension Commission’s DG, Mrs Folashade Onanuga has emerged as the Pension Amazon of the year and Lagos State Government as the Most Pension CompliantState in the 3rd edition of Business Today Online Pension and Insurance Awards 2015.

Speaking, in her Opening remarks, Onanuga disclosed that the dynamism and commitment of the State has made Contributory Pension Scheme to be a success compared to other states.

She also said that the contributions of the State on Pension Scheme administration in Nigeria has been saluted and adjudged as an effort hinged on professionalism and embracing structure for Pension operations.

She thanked the Organiser of the event and the public in general who had voted her and Lagos State, and said the State will continue to be focused in this direction of Pension Payment because “the reward for hard work is more work,” she said.

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