Mrs. Onanuga
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Chuks Udo Okonta
The Lagos State Government through Lagos State Pension Commission (LASPEC) has paid a cumulative sum of N18.598billion Pension Accrued Rights to 4,466 retirees under the Contributory Pension Scheme in fourteen months.
A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) said the beneficiaries are from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishment and Pension Office (TEPO) and other parastatals of Government.
Out of this, 362 retirees received N1.647 billion for the month ofSeptember, 2016.
Speaking at the 31st Retirement Benefit Bond Presentation Ceremony, which took place between Tuesday, 27th to Wednesday, 28thSeptember, 2016 at the Office premises, Alausa, Ikeja, the Director-General, Mrs. Folashade Onanuga said the payment has been made possible because the Governor, Akinwunmi Ambode is very much concerned about pensioners’ comfort.
Mrs. Onanuga gave a lifestyle talk to the retirees, and advised them to take care of their health. She talked of the importance of water which should be taken early in the morning and on the need to carry out light forms of exercises to make them fit.
She also advised them to be mindful of Pension fraudsters and encouraged the retirees to live a life of contentment. According to her “please do not invest your money in ventures you know nothing about in the process of making huge gains. The higher the gain, the bigger the risk, and at your age you should not be a risk lover as it may affect your health adversely.”
In appreciation, one of the beneficiaries, Amos O.O. commended the effort of Lagos State in the payment of Pension; taking into consideration, the economic downturn, the country is passing through. He also commended the staff of LASPEC for their dedication and proactiveness.
In a related development, the Lagos State Government through the Commission has paid to named beneficiaries of deceased employees,Insurance benefit worth, the sum of N42, 305,071.99 billion.
According to the Director-General, the insured death of 320% of the terminal salary of a deceased staff is designed by law to be paid in the first instance to alleviate the immediate needs of the family members left behind. She stated that the estate of the deceased are also entitled to receive the balance in the retirement account and accrued rights due, if the employee had joined service before the commencement of the Contributory Pension Scheme
