Pension

Lagos State Pays N4.25bn Accrued Pension Rights To 1268 Retirees

L-R: Permanent Secretary, Public Service Office, Samson Ajibade; Director General, Lagos State Pension Commission, Mrs. Folashade Onanuga and Honourable Commissioner, Establishment, Training & Pensions, Mrs. Ajibola Ponnle at the event.

BY NKECHI NAECHE ESEZOBOR—Poised to improve the welfare of retirees in the state, the Lagos State Government said it has paid a total of N4.25 billion accrued pension rights to 1268 retirees since the beginning of Governor, Babajide Sanwo-Olu, administration.
The Commissioner, Establishment, Training & Pensions, Mrs. Ajibola Ponnle, made this known at the Lagos State Pension Commission (LASPEC) 66th retirement benefit bond certificate presentation ceremony held recently in Lagos, that the state has remained committed to the welfare of workers and retirees.
She said N2.75 billion was paid to 881 retirees in the last three months, N1.50 billion was paid today to 387 retirees, while noting that the Governor had been briefed about the backlog of outstanding pension entitlements and that he had promised that more focus will be given to the payment of accrued pension rights.
She reaffirmed that the Governor is aware that without the payment of their accrued pension rights, they would not be able to access their retirement savings accounts to draw monthly pension.She added in a bid to make life comfortable for retirees, the state had commenced the issuance of identification cards to retirees, which they would use to access free medical treatment in the state’s hospitals and ride on the state mass transit buses for free.Earlier, in her address, the Director-General LASPEC, Mrs. Folashade Onanuga, told the retirees that their pension fund administrators have been directed to ensure that they are quickly granted access to their reirement savings account.The LASPEC boss further urged them to be careful of fraudsters, who may pose as helpers and financial experts, stressing also that the men should not use their benefits to marry new wives while the women should avoid unneccesary parties.

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