Lagos pays N918.703 million to 180 retirees

Lagos State Government has paid the sum of N918.703 million as Pension entitlements to 180 retirees in its mainstream civil service.

The retirees comprise the Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pension Office (TEPO) and other parastatals of Government.

The payment has brought the number of retirees paid between August, 2015 to August, 2016 to 4,104. The total accrued pension rights paid by the State government for the period, amounts to N16.951billion

Speaking at the 30th Retirement Benefit Bond Presentation ceremony yesterday in Lagos, the Director-General, Lagos State Pension Commission, Mrs Folashade Onanuga reiterated the commitment of the state government to the well being of both serving and retired officers, and to all residents of Lagos State.

She urged the retirees to live modestly and focus on healthy living rather than engage in frivolous spending which rather, than add value to their living will diminish it, stating that retirees should maintain one form of exercise or the other and also beware of pension fraudsters.