Lagos State Government has paid accrued pension rights of N32.09 billion to 8,170 retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals from May 2019 till date, the Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, has said.
She spoke at the 87th Retirement Bond Certificate Presentation to retirees of the Public Service in Ikeja, Lagos.
She said the government paid N1.011 billion pension into the Retirement Savings Accounts (RSAs) of 247 retirees.
Presenting the certificates to the 247 retirees, the Commissioner said: “Despite the huge liabilities, the administration has ensured the prompt payment of pension entitlements to retirees under the Pay As You Go Pension Scheme monthly, while LASPEC ensures payment of accrued pension rights to retirees under the Contributory Pension Scheme to enable them access their Retirement Savings Accounts (RSAs) without delay.
“Today, under the administration of Mr. Babajide Sanwo-Olu, the government has, once again, honoured its obligations as stated in the amended Lagos State Contributory Pension Scheme Law, by the presentation of the certificates to the 87th batch retirees from the state Public Servie.” He advised retirees to embrace the challenges of the new phase of life.’’
LASPEC’s Director-General, Mr. Babalola Obilana commended thepension firms for ensuring that retirees had access to their benefits.
