- Lagos Boosts Retirees’ Welfare With ₦1.08bn Pension Payment
- Accrued Pension Rights to 648 Retirees
- Agoro noted that the initiatives had significantly reduced delays in accessing pension entitlements
No fewer than 648 retirees from the Lagos State Public Service have received accrued pension rights worth over ₦1.08 billion as the state government reaffirmed its commitment to the timely payment of retirement benefits.
Eko Hot Blog reports that the disbursement, approved by Governor Babajide Sanwo-Olu, saw a total of ₦1,081,535,589.42 paid to retirees from the mainstream civil service, Local Governments and Local Council Development Areas (LCDAs), the Lagos State Universal Basic Education Board (LASUBEB), the Teaching Service Commission (TESCOM) and other state agencies.
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The beneficiaries received their entitlements during the 115th Retirement Benefit Bond Certificate Presentation Ceremony held in Lagos.
Speaking at the event, the Head of Service, Bode Agoro, described the payment as another milestone in the implementation of the state’s Contributory Pension Scheme (CPS).
He said the Sanwo-Olu administration remains committed to ensuring that public servants retire with dignity and financial security.
According to Agoro, the latest disbursement reflects the government’s determination to prioritise the welfare of retirees while sustaining confidence in the state’s pension administration.
He also commended the Lagos State Pension Commission (LASPEC), led by its Director-General, Babalola Obilana, for improving the processing of retirement benefits through regular pre-retirement documentation and sensitisation programmes.
Agoro noted that the initiatives had significantly reduced delays in accessing pension entitlements.
He added that the prompt payment of accrued pension rights remains a key component of the state’s public service reforms and demonstrates the government’s commitment to rewarding years of dedicated service.
The Head of Service also encouraged retirees to remain engaged with the state’s Post-Service Department to benefit from welfare programmes and other support initiatives available to them after retirement.
The latest disbursement comes amid growing concerns over the impact of rising inflation, increasing healthcare costs and the declining purchasing power of pensioners, with stakeholders calling for stronger measures to protect retirees’ welfare across the country.
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