Lagos State pays N740m accrued pension rights to 255 retirees


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Chuks Udo Okonta

The Lagos State Government has disbursed N742 million to 255 retirees in the month of August, 201, Governor Akinwunmi Ambode, has said.

The Governor, who was represented by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson Oke at the 42nd Retirement Bond Certificate Presentation in Lagos, said Lagos cares and that is why it is committed by being up-to-date in Pension payment. He implored them not to live extravagantly.

He said that In 2 years from August 2015 to August, 2017, the Administration of Ambode through Lagos State Pension Commission (LASPEC) has been able to pay over N30 billion to retirees in form of accrued pension rights into the RSA of 7,232 retirees. An achievement, no other State has attained.

Director-General of LASPEC, Mrs. Folashade Onanuga, advised the retirees on healthy living. She used the medium to educate the beneficiaries who have relatives and friends still in service on theimportance of making Additional Voluntary Contributions (AVC) into the Retirement Savings Account (RSA).

She said: “The deduction field for AVC is now on the State Government’s Oracle HR application. The AVC will guarantee more comfortable life for retirees as the funds are invested and can be accessed immediately by a retiree on retirement. It can also be used to boost pension received in retirement.”

In appreciation, two retirees, messrs Isiaka Ayinde Adeniji, Kayode (JP) and Fasasi Popoola, showered encomiums on Ambode for his magnanimity and fear of God, considering how far his administration had gone in payment of entitlement rights.

According to them: “Lagos is making pensioners happy, we pray God should make Governor Ambode succeed in all his undertakings. We want to thank our Governor for the quality of staff he employed in LASPEC.They have good disposition towards us and they are always respectful and warm in their dealings with us”. Alhaji Popoola led prayers specially for the Director-General and staff of the Commission.

Retirees paid are from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishments and Pensions Office (TEPO) under the Contributory Pension Scheme.

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