Government pledges to prioritise prompt payment of retirees’ benefits

By : Samuel Ifetoye

Date: 3 April 2022 4:49am WAT

Commissioner for Establishments, Training, and Pensions, Mrs. Ajibola Ponnle

The Commissioner of Establishments, Training and Pensions, Mrs. Ajibola Ponnle, has again assured retirees that the state government would continue to set the pace in the timely payment of retirees’ benefits.

Ponnle, who said this at the 92nd retirement bond certificate presentation ceremony, said the presentation of certificates to retirees, has shown great commitment to the service of the people of the state.

“The state government recognises the plight of our estimable workers, who have served in the Lagos State Public Service and the need to safeguard their financial security after service.

“This administration has continually prioritised the prompt payment of government’s pension obligations within the available limited resources. Despite huge liabilities, we have promptly paid the pension entitlements of retirees under the Pay As You Go Pension Scheme monthly, while Lagos State Pension Commission (LASPEC) ensures payment of accrued pension rights to retirees under the Contributory Pension Scheme, so our retirees can access their Retirement Savings Accounts (RSAs) without delay,” she said.

The Commissioner added: “Under the administration of Mr. Babajide Sanwo-Olu, Lagos State government has once again, faithfully honoured its obligations as stated in the amended Lagos State Contributory Pension Scheme Law, by the presentation of Bond Certificates to the 92nd batch retirees from the state public service.

“I am pleased to inform you that the Lagos State government has paid over N38b as Accrued Pension Rights to 9,865 retirees in the mainstream ministries, local councils, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals from May 2019 till date.

“Furthermore, the sum of N1.520b has been credited into the Retirement Savings Accounts of 515 retirees this month, alongside their monthly contributions. Let me assure you that Lagos State has not forgotten you. Your welfare and wellbeing are top-priority and the state government is relentless in its pursuit to improve your retirement life.”