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Lagos Pays N I.92 Billion to another batch of Retirees

Director General, Lagos State Pension Commission, Mrs. Folashade Onanuga presenting a bond certificate to a retiree

Lagos State Government has approved the release ofN 1.92 Billion for the payment of Accrued Pension Rights during the 71st batch Retirement Bond Certificates presentation ceremony to 444 retirees ofthe Lagos State Public Service ,held at the NecaAuditorium on Wednesday, 29th January 2020.

Director General, Lagos State Pension Commission Mrs Folashade Onanuga welcomed all beneficiaries to the ceremony. She reiterated the fact that from inception of the Contributory Pension Scheme the State Government complied with the financial obligation demanded by the Scheme as it related to monthly funding of Retirement Savings Account (RSA) account of employees payment of death benefits to employees who die in service.

She made it clear that the number of beneficiaries and amount involved were the biggest so far in the payment of accrued pension rights.

She also mentioned that, Mr Governor BabajideSanwoolu’s administration should be commended for the Pension bail of N13 billion approved in the year 2020 budget and for increasing the Redemption funding rate from 5 % to 10% of Total emolument of active workers.

The Director General said she is optimistic that the monthly payment of entitlement to retirees will continue in Lagos State, so that the issue of retirees waiting for months before being paid will soon be a thing of the past.

She advised the retirees to be prudent with their spending and also be aware of their health status so they can live a healthy long life because there aredifferent ailment that comes with old age.

She informed the beneficiaries to their delight that those of them above 60 would be enrolled for the health Insurance Scheme, the Premium of which would be paid by the Government.

Mr Emeka Nwagunor from Lagos State health management agency further explained benefits to be enjoyed in the health scheme which will be obtainable in all general hospitals, private hospitalsand all primary health care centres.

He said they can enjoy 100% health care on treatment of some health challenges which covers certain categories of surgery, including hernia, at government-owned health facilities including General Hospitals in all parts of the Lagos, as well as designated private hospital in the States. The scheme also covers, High blood pressure, Arthritis, typhoid,malaria, x-ray for hand and legs. He urged the retirees to always visit the nearest hospital to cut transportation expenses and make the hospital visit less stressful.

In response, many of the retirees expressed deep gratitude to both the Lagos State government and particularly Governor Sanwo-olu for coming up with the various surprise benefits announced to them, which were declared to be first of it’s kind in Nigeria.

Mrs Abike Olubamido, on behalf of other retirees was full of praise for Mr Governor, BabjideSanwoolu for having the love and interest of Lagos State retiree at heart.

She also commended the head and management of Lagos State Pension Commission on the diligentmanner they discharge their duties to retirees.

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