Pension

Lagos State Releases N1. 157bn For Payment Of Accrued Rights To 368 Retirees

BY NKECHI NAECHE -ESEZOBOR-The Lagos State Governor Mr Babajide Sanwo-Oluhas has approved the release of the sum of N1, 157bn for the payment of Accrued Pension Rights to 368 public service retirees.

This was disclosed by the Director- General Lagos State Pension Commission Mr. Babalola Obilana while given update on payments of Pension for the month of May 2020, in his office at the Central Business District Alausa Ikeja.

He appreciated Mr. Babajide Sanwo-Olu for his commitment to ensuring that retirees get paid their terminal entitlements as and when due.

According to the Director-General to ensure the safety of all beneficiaries, in view of the Covid-19Pandemics. All Bond Certificates for the month of May have been released to the Pension Fund Administrators (PFA) who will invite beneficiaries in their ten’s for the exit meeting and grant access to their Redemption Savings Account (RSA) for the computation of their Lump Sum and monthly Pension.

He assured retirees that he will sustain and improve on the accomplishments of his predecessor, Obilanaimplored retirees that are yet to collect their Bond Certificates that they would soon be paid, as payments are being structured based on date of exit and also grade level. They are neither forsaken nor forgotten.

Speaking further, he advised Retirees to be careful how they invest their money, so that they can live a stress free life in old age

The Director-General urged the retirees to scan and send all their documents to the agency through the e-mail address; info@laspec.gov.ng or morenike.makinde@laspec.gov.ng

For enquiries, retirees can also check their Retirement Bond Certificates readiness at LASPEC portal which is,laspecportal.com.ng.

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