Lagos State pays N784,690 accrued pension rights to 266 retirees


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Chuks Udo Okonta

The Governor of Lagos State, Babajide Sanwo-Olu said the welfare of Lagos State retirees is very dear to his heart and therefore, he is committed to making sure that the payment of Accrued Pension Rights continues monthly.

A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC), noted that the Director-General, LASPEC, Mrs. Folashade Onanuga made this known while she was welcoming another batch of retirees at the 64th Retirement Benefit Bond Certificate Presentation Ceremony held yesterday at NECA House, Ikeja, Lagos.

She noted that a total number of 266 received Retirement Bond Certificates for a total sum of N784,690 (Seven Hundred and Eighty-Four Million, Six Hundred and Ninety Thousand Naira Only).

She advised the retirees not to succumb to any pressure in the choice of Annuity or Programmed Withdrawal benefit options. After patiently explained the nittygritty of the two options for receipt of monthly Pension, she also added that individual circumstance should be considered before making a choice.

She urged all the beneficiaries to be extremely cautious and careful when deciding what to do after retirement. “Do not go into business that you are not knowledgeable about” she said.

In appreciation, the retirees, who were all enthusiastic about the presentationprayed for the new Administration and wished His Excellency, the best as he continues to take Lagos State to a higher level.

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