From left: Chairman, House Committee on Establishments, Training and Pension, Hon Adedayo Famakinwa, Commissioner Establishments, Training and Pension, Dr Akintola Benson Oke, presenting a bond certificate to a retiree; Director-General, Lagos State Pension Commission, Mrs Folashade Onanuga and other dignitaries at the event.
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Chuks Udo Okonta
Lagos State Government has paid N27.41 billion accrued pension rights into the Retirement Saving Accounts (RSAs) of 6,267 retirees, the Director-General Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, has said.
She disclosed this on Friday at the 38th Retirement Benefit Bond Certificate Presentation in Lagos, where certificates worth N1.6 billion were presented to 311 retirees.
She noted that accrued rights previously paid before the current administration amounted to N33.65 billion to 7,409 retirees, adding that since the commencement of retirement benefit bond certificate presentations in 2010, over 13,676 retirees/withdrawn staff have received about N61.42 billion.
Onanuga said the state government through LASPEC, has also paid to named beneficiaries of deceased employees, insurance benefits of N12.5 million for the month of April 2017, bringing the total of death benefits paid to N182.5 million from August 2015 to date.
She urged the retirees to be careful how they utilise their benefits, stressing that scammers are everywhere looking for who to swindle.
“We had a case of a retiree that was advised to invest her lump sum in diesel business which she did and never saw the diesel and she ran to us seeking another lump sum. We have to let her understand that lump sum is collected ones. You should invest in the business you are abreast with,” she said.
According to her, the 311 retirees were drawn from those who retired between 2015 to 2017.
Commissioner Establishments, Training and Pension, Dr Akintola Benson Oke, said under the administration of His Excellency, Akinwunmi Ambode, Lagos State Government has faithfully honoured its obligations under the Lagos State Contributory Pension Scheme Law, adding that State Government has never failed to remit monthly contributions into the Retirement Savings Account of workers and, as at March, 2017, about N78,592 billion had been credited into employees’ Retirees Savings Accounts maintained by 10 Pension Fund Administrators.
“The Lagos State Government has also been consistent in setting aside funds for the payment of accrued rights as provided for in the Pension Reform Law such that the State government has paid accrued pension rights of about N61 billion since the commencement of the Retirement Benefit Bond Certificate Presentations in 2010.
“Today, a total number of 311 retirees will have their Retirement Savings Accounts credited with accrued pension rights of N1.6 billion, made up of gratuity and pension benefits under the Defined Benefit scheme for employees who transited into the Defined Contributory Scheme,” he said.
He maintained that with the institution of such elaborate schemes by the Lagos State Government, it is not surprising that retiring public officers now look forward to retirement with more confidence and joy.
He urged the retirees to embrace the joys and challenges of their new phase of life, stressing that one thing that will stand them in good stead is the readiness to take advise from competent and reliable sources.
“In this respect, please do not hesitate to contact LASPEC or even the Ministry of Establishments, Training and Pensions should you require clarifications or advice regarding the modalities surrounding your retirement matters. Another piece of advice is that you should strive to embrace healthy habits in terms of diet and exercise regimes. This will give you the benefits of healthy living that make retirement even more beneficial,” he said.
Chairman, House Committee on Establishments, Training and Pension, Hon Adedayo Famakinwa, encouraged the retirees to feed well and exercise regularly. He said the pension administration in Lagos cannot be compared to any other states. He also urged the retirees to be wary of scammers.
Chairman Trade Union Congress (TUC) Lagos Chapter, Comrade Francis Ogunyemi, lauded Governor Ambode, for being prompt in payment of salaries and remitting pension as and when due.
