Lagos state pays N1.08bn pension accrued rights


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Chuks Udo Okonta

The Lagos State government has issued Retirement Benefit Bond Certificates for a total sum of N1, 080 billion to 260 retirees from the Mainstream; Local Government; SUBEB; TEPO and Parastatals under the Contributory Pension Scheme (CPS) for the Month of April, 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 April, 2016 to 3,069. The total accrued right paid by the State Government from the aforementioned month to date is N13, 701 billion.

During the presentation of the 26th Retirement Benefit Bond Presentation which took place between Thursdays 28 to Friday 29 April, 2016 at the LASPEC Office Premises, the Director-General, Mrs Folasade Onanuga advised the retirees to carefully take decisions on how the funds will be utilised. She also advised them to be wary of Pension fraudsters who deceive retirees into believing that there are balances to be paid to them and make demands on them.

She reiterated the fact that in the not too distant future, all retirees will receive their entitlements.

“The fact that this Administration commenced and has been able to maintain the trend of paying terminal entitlements of retired employees monthly since it started in August, 2015 is highly commendable,” she said.
In appreciation, one of the retirees, Animashaun Taoheed, prayed for His Excellency, Akinwunmi Ambode for his magnanimity. He said, since the Governor would not like to see those who had laboured for the State, suffer, likewise, God will not make him and his team, suffer.

He also appreciated the workforce in the Lagos State Pension Commission.

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