Mrs Onanuga presenting certificate to a retiree
LASPEC wins award
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Chuks Udo Okonta
The Governor of Lagos State, His Excellency, Akinwunmi Ambode, has released the sum of N684 million to pay accrued pension rights to 218 retirees from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishments and Pensions Office (TEPO) and other Parastatals of Government under the Contributory Pension Scheme for the month of June.
A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) stated that the Director-General LASPEC, Mrs. Folashade Onanuga, while addressing the retirees at the 40th Retirement Benefit Bond Certificate Presentation on Friday, 30th June, 2017 in Ikeja, gave the Governor’s goodwill message, stressing that the retirees having contributed their quota to the development of the State, deserve to be treated like elder statesmen with right to receive their pension early as active workers also receive their salaries on time.
Mrs Onanuga addressing the retirees
She implored the beneficiaries to be gentle with life. “Maintain a low profile, Eat healthy and exercise well as this is what your body needs. Let moderation be your watchword,” she said.
She also explained that even though there is two options available for receipt of monthly Pension entitlements – the Programmed Withdrawal and life annuity options, not many insurance companies have received PenCom’s nod to transact Annuity business. However, Leadway Assurance plc, FBN Insurance Custodian Life and ARM life have gotten approval. Only Leadway assurance & ARM life are for now given approval to provide Annuity services for Lagos State Government retirees.
The retirees pray that God will continually give the Governor the heart of helping the less privileged.
The Lagos State Pension Commission (LASPEC) was recognised again as the ‘Best Public sector Pension Administrator in West Africa by the West AfricaInnovation Awards 2017 held on Thursday, 29th, June 2017 at Transcorp Hilton Hotel, Abuja.
