Lagos pays N1. 5bn pension to retirees

By Adebola Olasunkanmi

The Lagos State Government, through Lagos State Pension Commission (LASPEC), has paid N1. 5billion to 333 retirees from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other agencies of Government for the Month of October, 2016.

The Director-General, Lagos State Pension Commission, Mrs. Folashade Onanuga said that since monthly payment of accrued pension rights started in August 2015, this administration has been able to pay the cumulative sum ofN20.98b to a total number of 4,799 retirees under the Contributory Pension Scheme in the last fifteen months.

Speaking at the 32nd Retirement Benefit Bond Presentation Ceremony recently, Onanuga stated that the payment of accrued pension rights is structured in such a way that, one does not need to know anyone before he or she got paid.

She said that apart from the commitment to paying the entitlements of the retirees, Governor Akinwunmi Ambode is also interested in the well-being of the retirees and as such will be holding an interactive forum with them soon.

This forum, tagged “Retirees Day-Out with His Excellency”, is designed as a “feedback mechanism” that allows retirees to inform the Government of their challenges and how the State could intervene effectively among others.