Lagos pays N5b accrued pension rights to 1,768 retirees
Ajibola Ponnle,
The Lagos State Government has announced that it has paid N5b into the Retirement Savings Accounts of its 1,768 retirees for the month of April, alongside their monthly contributions.
At the presentation ceremony of retirement bond certificates to 100th batch of the state service 1,768 retirees, the Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, said that the government was indeed grateful to the retirees for their selfless service during their years in service, adding that the state also recognises the need to protect their retirement benefits.
“I am happy to report that the Lagos State Government has paid accrued pension rights of N5b into the Retirement Savings Accounts of 1,768 retirees this month, alongside their monthly Contributions.
“This is the 100th retirement bond presentation ceremony since the inception of the Contributory Pension Scheme (CPS) in Lagos State. I consider it a privilege to be part of this remarkable celebration and presentation of Retirement Bond Certificates to our dear retirees.
The ceremony is a special centenary festivity and it is a blessing for Lagos State to have sustained this event this far.
“We have come a long way since the inception of the CPS and I am happy to inform you that Lagos State, the Centre of Excellence has maintained its leading role in the administration of the CPS and the payment of pension obligations to our beloved retirees.
The state government is truly grateful for your hard work and recognises the need to protect your retirement benefits, hence, Lagos State was one of the first states to implement the contributory pension scheme with an objective to ensure you receive income regularly in your retirement,” Ponnle said.
She added: “Lagos State was one of the first states to implement the contributory pension scheme with an objective to ensure you receive income regularly in your retirement.
“In this regard, we have been a consistent high flyer in the pension industry with over N50.7 billion paid to 13,928 retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other Parastatals of the State Government from May 2019 till date. Our vision is to have a dynamic, efficient and effective workforce to pilot the agenda of a ‘Greater Lagos’. The safe retirement and welfare of our officers is a major priority in actualising this goal.
“Let me use this occasion to thank you all for the return of indefatigable governor for a second term of service to our great state. Today, under the administration of Mr. Babajide Sanwo-Olu, the Lagos State government has once again, faithfully honoured its obligations as stated in the amended Lagos State Contributory Pension Scheme Law.”
The Lagos State Pension Commission Director General, Babalola Obilana, said that the government of Governor Babajide Sanwo-Olu has worked assiduously to ensure the consistent payment of pension liabilities and first class service to the retirees.
“Please feel free to reach out to us after this event for any pension-related information or further clarifications. We take our role as the front runner in the pension industry seriously,” he stated.
Meanwhile, one of the recipients of the bond certificate, one 70-year-old Aluko Julius Adebanjo expressed appreciation to God to be alive to receive his certificate and to also thank the government for making it possible to get his pension while alive.
“I retired in 2017 and since then it has been come today and come tomorrow until today that I got my pension certificate. No sooner that I retired, I had an accident that took away my little savings. But I want to thank God that I am alive to receive my pension. I also want to thank Governor Babajide Sanwo-Olu, the commissioner and all the staff of the Lagos State Pension Commission for their effort in making this a reality,” he said.
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