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Lagos government promises to prioritise payment of retirees’ benefits

By Samuel Ifetoye
17 November 2022   |   5:08 am
Lagos State government has said that it is working assiduously to ensure that its pensioners get consistent and timely income at retirement.

[FILES] Governor Sanwo-Olu. Photo/facebook/jidesanwooluofficial

Lagos State government has said that it is working assiduously to ensure that its pensioners get consistent and timely income at retirement.

The state’s Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, stated this at the 23rd retirement benefit documentation seminar organised for employees due for retirement from the state’s public service between January and June 2023.

She told the retirees that the state government would prioritise the welfare of its workforce and pensioners.

“It is our expectation that the outcome of the seminar will provide you with a clear understanding of the relevant documents required for the processing of your retirement benefits under the contributory pension scheme,” she said.

She added: “It is also expected that the sessions will answer most of your questions and ease your worries about life after retirement.

“The current administration is dedicated to the prompt payment of salaries and pensions. We are also committed to maintaining a leading role in the pension industry by improving the timely payment of pensions upon retirement from the state public service.

“The current administration since its inception in 2019 has paid over N44.5 billion to 11,854 retirees. I think the governor deserves some accolades. We are constantly monitoring our Pension Fund Administrators (PFAs) and Annuity Service Providers (ASPs) for full compliance with the directives of the Contributory Pension Scheme (CPS).

“We are not unmindful of the challenges faced by our senior citizens, such as the outstanding pension payments and the impact of the global economic crisis on the cost of living. We are working on various reforms to ensure our pensioners receive consistent and timely income at retirement,” she said.

The commissioner added: “As you plan to retire, please ensure your information on the retirement process is from competent and reliable sources. Do not hesitate to contact the Lagos Pension Commission or the Ministry of Establishments, Training and Pensions for advice or clarifications on pension issues.”

Also speaking on the occasion, the Director-General, of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, said the event was in collaboration with the PFAs and ASPs.

“Our purpose is to provide relevant information on the documentation required to process Accrued Pension Rights, which will be remitted into your Retirement Savings Accounts (RSAs). We believe that your retirement should be seamless and stress-free after spending significant productive years in service with the state,” he stated.

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