Lagos State Govt Pays N44.5bn Into Retirees’ Accounts

Lagos State Government paid about N44.5billion into workers’ retirement savings accounts as part of its commitment to resolve pension issues in the state.

EKO HOT BLOG reports that the announcement was made by the Director-General (DG) of Lagos State Pension Commission, Mr Babalola Obilana, during the 23rd Retirement Benefit Documentation Seminar.

EDITOR’S PICKS

• Why We Will Mobilize Support For Tinubu, Other APC Candidates- Lagos Voters

• Tinubu: APC Sends Strong Warning To Opposition Parties Over Allegation

• Lagos State Gets Automobile Hub In UNILAG, To Begin Manufacturing Of Cars

The seminar was for employees due to retire from Lagos State Public Service between January and July, 2023. Obilana highlighted that the pay is to cover May 2019 to October 2022.

He said the state government under the leadership of Governor Babajide Sanwo-Olu is committed to the resolution of pension-related issues.

“The State Government is committed to the speedy resolution of pension issues and is constantly innovating to deliver first-class service to our retirees and intending retirees.

”Since the inception of the present administration in May 2019, over N44.5bn has been credited into the RSAs of 11,854 retirees,” Obilana said.

He added that the Lagos State Pension Commission had “implemented and supported various reforms and business processes such as the RSA transfer window, automation of business processes, inspection of pension fund administrators to ease the burden of the senior citizens.e arraigned at the end of investigation.”

The DG while addressing the workers stated that the present administration will fulfill its promise in ensuring total welfare and financial freedom in retirement.

“We believe that your retirement should be seamless and stress-free after spending a significant amount of your productive years in service to the state.”

FURTHER READING

• LAMATA Suspends Activities Of BRT Team On Eko Bridge

• NYSC: Why We Ranked Lagos As Most Friendly State

“Today, you will be educated on the recent updates to the contributory pension scheme. There will be valuable information on managing your health and personal finances in retirement. Investment and estate planning tips will also be shared so we can maximise and fully enjoy our pension entitlements,” Pencom DG said.

Click to watch our video of the week here 

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611