The Lagos State government said no fewer than 742 retirees under its public service have received accrued pension rights worth N1.53 billion under the present administration in the state.

This, the Head of Service, Bode Agoro, revealed at the 109th Batch Retirement Benefit Bond Certificate Presentation Ceremony, in Lagos.

Agoro stated that the payment of the contributory pension is part of the state’s continued efforts to ensure that retirees receive their entitlements as and when due.

Agoro, who was represented by the Permanent Secretary, Public Service Office, Olasunkanmi Oyegbola, confirmed that since assuming office, Sanwo-Olu has prioritised the timely payment of contributory pensions as part of the state’s commitment to ensuring that retirees receive their benefits.

According to him, “The state has consistently met its obligations to pay pensions to retired workers on schedule. Since the launch of the Contributory Pension Scheme (CPS) in 2007, Lagos State has been a leader in fulfilling its pension responsibilities.

“From May 2019 to the present, the state has distributed a total of N70.99 billion to 20,956 retirees from the Mainstream Civil Service, Local Government, SUBEB, TESCOM, and other parastatals.

“This new disbursement is a testament to the Sanwo-Olu administration’s unwavering dedication to honouring the sacrifices of our retirees.

“The bond certificates being presented today are not just documents—they are tokens of appreciation and symbols of the state’s respect for your service.”

Speaking also at the programme, the Director-General of the Lagos State Pension Commission (LASPEC), Babalola Obilana, praised Governor Sanwo-Olu’s proactive support for retirees, stressing that the funds cover service years before the CPS’s implementation.

“As you receive your funds, take a close look at your financial needs. Start by evaluating your expected monthly expenses, which should include everything from housing and healthcare to leisure activities,” he added.

He also urged individuals who are planning to include beneficiaries in their wills to ensure that a will is prepared.