From left: Lagos State Commissioner For Establishments, Training and Pensions, Ajibola Ponnle presenting retirement certificates to one of the retirees with the Director-General , LASPEC, Mr Babalola Obilana , at the 96th Retirement Certificates Presentation organized by the Lagos State Pension Commission (LASPEC), recently in Lagos.
BY NKECHI NAECHE-ESEZOBOR–The Lagos State Government said it has paid a total of N1.113 billion as accrued pension rights into the Retirement Savings Accounts (RSAs) of 295 retirees for the month of July, 2022.
The State Commissioner For Establishments, Training and Pensions, Ajibola Ponnle, disclosed this at the 96th Retirement Certificates Presentation organized by the Lagos State Pension Commission (LASPEC), recently in Lagos.
She noted that the current administration had paid over N43 billion as accrued pension rights to 11,644 retirees in its public service from May 2019 till date.
She said “The state government recognises the plight of our estimable workers who have served in the Lagos state public service and the need to safeguard their financial security after service.
“To this end, it implemented the payment of the new minimum wage six months after the new wage bill was adopted as law and with a higher amount than the approved recommendation in response to global and national economic challenges.
“The state also implemented the upward review of pension contributions from 7.5 per cent of employee and employer contributions to 8 per cent employee contributions and 10 per cent employer contributions.
“This is in line with the administration’s vision to cater for its workforce even in retirement.
She also reassured that the State government would not relent in its pursuit to improve life for its retirees and had placed the welfare and wellbeing of its pensioners as top-priority .
“Recently, the state government through the Lagos State Residents Registration Agency (LASRRA) and in collaboration with sister agencies launched an upgraded Lagos State Resident Identity Card (LAG ID Card) .
“The card will include benefits such as subsidised health care and transport services for our retired public servants.
“The card will include benefits such as subsidised health care and transport services for our retired public servants.
“Please ensure you are registered with LASRRA to enjoy these benefits upon commencement.”
In his welcome address, the Director-General , LASPEC, Mr Babalola Obilana said the governor, Babajide Sanwo- Olu has approved the automation of business processes in LASPEC to ensure first class service delivery to our dear retirees in order to accomplish the state government’s goal of the immediate payment of pension entitlements upon retirement from the public service.
He also appreciated the efforts and contributions of the retirees whilst in the service.
