Lagos State Pays 190 Retirees N720m Accrued Pension Rights

The Lagos State Government has released the sum N720.445m as payment into the Retirement Savings Accounts of 190 Contributory Pension Scheme retirees from the State’s Public Service for the month of August 2018.

The Lagos State Commissioner, Ministry of Establishment, Training and Pensions, Dr. Akintola Benson Oke who disclosed this during the 54th Retirement Benefit Bond Certificate Presentation at Ikeja, Lagos, said that 9,591 retirees have had accrued rights of N39.450 billion paid into their Retirement Savings Accounts in the last 37 months (August 2015 – August 2018).

Akintola affirmed that pensioners are always on the payroll priority of Lagos State every month and expressed this administration’s satisfaction for clearing the backlog of pension benefits for its retired employees.

Earlier, the Director-General, LASPEC, Mrs. Folasade Onanuga commended the retirees for their contribution to the development of Lagos State and assured them of the State Government’s commitment to their welfare in retirement. She, however, advised the retirees to spend wisely in retirement, saying “Any project you know you cannot finish, don’t put your money into it”.

The retirees, in response, thanked the LASPEC Staff for their effectiveness and efficiency in the past years and implored the staff to keep up the good work.