EKO NEWS

Lagos State Govt Pays Retirees N1.1 Billion

Published

3 years ago

Apr 30, 2022.

Quadri Abdulsamod

Lagos State government announced on Friday that it had paid N1.128 billion in April pensions and contributions for 438 retirees
Retirees praised the state government for its efforts to improve pensioner welfare

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EKO HOT BLOG reports that the Lagos State government announced on Friday that it had paid N1.128 billion in April pensions and contributions for 438 retirees.

Ajibola Ponnle, the Commissioner for Establishments, Training, and Pension, confirmed this at the 93rd Retirement Bond Certificate presentation to retirees of the Lagos State Public Service, which was organized by the Lagos State Pension Commission (LASPEC) in Lagos.

Mrs Ponnle also stated that the state government has paid a total pension of N39 billion to 10,380 state retirees since May 2019

She said: “The state government is committed to the welfare and interest of pensioners in the Lagos State public service and has continually prioritised the prompt payment of its pension obligations within the available resources.

“Despite the huge liabilities faced in running our dear state, the present administration has ensured the prompt payment of pension entitlements to retirees under the Pay As You Go Pension Scheme monthly.

“LASPEC ensures the payment of accrued pension rights to retirees under the Contributory Pension Scheme (CPS) to enable timely access to their RSA’s.”

The commissioner advised the retirees to embrace the joy and challenges of their new phase of life, following their successful retirement.

She charged the pensioners not to hesitate to contact LASPEC or even thenistry of Establishments, Training, and Pensions, should they require clarifications or advice regarding the modalities for retirement benefits.

“I congratulate every retiree present and wish you all the best. I pray that God will give you good health to enjoy your benefits,” Mrs Ponnle said

The Director-General of LASPEC, Babalola Obilana, said the state had been consistent with the implementation of the CPS in line with the provisions of the Lagos State Pension Reform Law of March 19, 2007, now amended.

Mr Obilana commended the commitment of Governor Babajide Sanwo-Olu to the effective administration of the CPS in Lagos State.

He said one of the outcomes of the governor’s commitment was the regular issuance of the Retirement Benefit Bond Certificates to retirees.

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He said: “I must also appreciate the unflinching support of the Commissioner for Establishments, Training, and Pensions, approved Pension Fund Administrators (PFAs), and the efforts of the Annuity Service Providers in ensuring that all our retirees have unrestrained access to their pensions.”

Mr Obilana charged retirees to beware of any individual or association who claimed to be affiliated with the state government to process

He said: “LASPEC staff will not collect a kobo from you so please direct all inquiries to LASPEC via our website www.laspec.gov.ng or our official phone lines which can be found on our website or the fliers given to you.

“I enjoin you all to take very good care of yourselves and implore you to desist from irrelevant spending.”

The retirees praised the state government for its efforts to improve pensioner welfare.

They did, however, charge the government with expediting payment of the accrued pension in order to clear the backlogs.

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