Lagos pays N892m accrued pensions

The Lagos State Government said it has paid N892 million into the Retirement Savings Accounts of 156 retirees for the 50th batch under the Contributory Pension Scheme.

According to a statement obtained from the Lagos State Pension Commission on Sunday, the Lagos State Governor, Akinwunmi Ambode, said during the retirement bond presentation that pensioners were vital part of his administration.

The governor, who was represented at the event by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Oke, said this was in line with the trend of paying pensions monthly.

The Director-General, LASPEC, Mrs. Folashade Onanuga, implored the beneficiaries to carefully go through the handbills on programmed withdrawal and annuity options provided by the state government.

According to the statement, she explained to the retirees the new development in the programmed withdrawal pension benefit option as it relates to pension enhancement for those who have been on a static pension for a minimum of five years, and the issue of minimum guaranteed pension.

In the statement, the retirees appreciated the Lagos State Government for its consistency in paying the pensions and requested that the process of issuing them identification cards be fast-tracked so as to give them access to other benefits such as health care services.