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Lagos State settles retirees’ N4.25 billion in four months

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The Lagos State government has said that it paid N4.25 billion accrued pension benefits to its retirees under the Contributory Pension Scheme since the inception of the new administration of Lagos State Governor, Babajide Sanwo-Olu.

Commissioner for Establishments, Training, and Pensions, Mrs. Ajibola Ponnle, stated this in an interview with The Guardian during the presentation of the 66th retirement benefits bond certificates to retirees in the state’s public service in Lagos.

She said that the state was paying N1.5bn to retirees at its 66th bond presentation.

  
According to her, it had paid N2.75bn in the last three months, which made the total payment N4.25 billion.
  
Head of Service, Hakeem Muri-Okunola, said: “The high premium that the state government places on the welfare of its members of staff, serving and retired public servants alike, is a conscious and deliberate policy.

“It underlines its recognition and appreciation of the crucial contributions of its workforce to its widely acknowledged leadership position and status as the center of excellence.”
    
He commended the Lagos State Pension Commission (LSPC) for its commitment to the successful implementation of the state government’s policy objectives towards achieving a seamless pension administration system in the state.
  
Its Director-General, Folashade Onanuga, assured the retirees that the government’s interest in the wellbeing of the retirees was paramount.
  
According to her, Governor Sanwo-Olu runs a people-oriented government and is also sensitive to the yearnings of the populace.

She said the accrued pension rights, being the entitlements of retirees under the discontinued ‘Pay-as-you-go pension scheme’ would be remitted into their Retirement Savings Accounts (RSAs) from the mainstream service, local governments, SUBEB, and the teaching service commission.


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