The Lagos State Government has released the sum of N859.059m for the payment of increased pension rights to 158 Public Service retirees under the Contributory Pension Scheme for May 2018.
Addressing the retirees at the 51stRetirement Benefit Bond Certificate Presentation Ceremony today, the Commissioner, for Establishments, Training and Pensions, Dr. Benson Oke Akintola said the State government has paid increased pension rights in excess of N37.5billion into the Retirement Savings Accounts of 9,045 retirees since the inception of the present administration.
“Despite the fact that the funding obligations of the current pension scheme are high, Governor Ambode is committed to the wellbeing of the Pensioners and the active staff. Hence funds are released regularly to pay staff salaries and Pensioners’ dues”.
Speaking earlier, the Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga informed the retirees that the present administration was fine-tuning the process of rolling out benefits to make life easier for the retirees.
She implored the retirees to study the leaflets distributed by the State Government in respect of the two options for receipt of monthly Pension entitlements and opt for anyone of their choice.