Lagos govt pays 288 retirees N1bn benefits

The Lagos State Government has paid another set of 288 retirees N1.06bn pension benefits.

The Director-General, Lagos State Pension Commission, Mr Babalola Obilana, disclosed this at the 97th batch retirement bond certificate presentation ceremony in Lagos on Friday.

While making his presentation, he said, “Today, the present administration of Governor Babajide Sanwo-Olu will be presenting another set of 288 retirees with a sum of N1.06bn only, being their past service benefits prior to the commencement of the Contributory Pension Scheme in 2007.

“The efforts of Mr Governor Babajide Sanwo-Olu and the present administration towards the success of the Contributory Pension cannot be overemphasised. Despite rising recurrent expenditure and the current economic climate, the State Government has made continuous monthly payments a priority to ensure retirees access their retirement benefits as soon as possible.”

He acknowledged the retirees’ labour and sacrifice while in the public service which had contributed immensely to the development of Lagos State.

Lagos State, he noted, had consistently implemented the CPS since its inception in line with the provisions of the Lagos State Pension Reform Law of 19th March 2007, now amended.

To secure the future of its greatest asset, the public service, he said Lagos had consistently prioritised pension contributions in the annual state budget.

He urged the retirees to beware of any individual/association claiming to be affiliated with the state government and could process or fast track pension entitlements for a fee.

According to him, the retirees should direct all enquiries to LASPEC via its website or on its official phone lines.

The LASPEC boss said, “LASPEC also constantly reviews its business processes to ensure first class service delivery to our dear retirees and accomplish Mr Governor’s goal of the immediate payment of pension entitlements upon retirement from the public service.

“We at LASPEC constantly engage our stakeholders to ensure officers who have devoted their work lives in service to the state receive the best service possible.”