482 retirees receive N1.5bn pension payment from Lagos State

BY HABEEB ADAMU

The Lagos State government has paid the sum of N1.5 billion to 482 retirees as their pension gratuity rights for the month of May 2022.

Ajibola Ponnle, commissioner for establishments, training and pensions, made the disclosure during the recently conducted 94th retirement bond certificate presentation to retirees of the Lagos State public service, organised by the Lagos State Pension Commission (LASPEC).

According to Ponnle, the Lagos State government has a dynamic, efficient and effective system committed to the payments of retirees’ benefits to enhance their welfare and ensure safe retirement.

She added that the Governor Babajide Sanwo-olu administration, which commenced governance in May 2019, has been consistent with the development involved in the pension industry with over N40.5 billion paid to 10,862 retirees in the mainstream, local government, state universal basic board and teaching service commission among other agencies in the state till date.

The commissioner urged the retirees to regularly contact LASPEC or the Ministry of Establishments, Training and Pensions for clarifications regarding their benefits entitlement.

She also advised them to seek competent and reliable sources on matters concerning pensions, while also investing their funds in relevant activities which will benefit them for future purposes.

On his part, Babalola Obilana, the director general, LASPEC, appreciated the efforts of Sanwo-Olu towards the success of the Contributory Pension Scheme (CPS) and welfare of pensioners.

Obilana said that the governor had subsequently funded the redemption fund accounts to ensure retirees get their retirement benefits entitlement as soon as possible.

“The mission of the present administration is that every state worker, once disengaged from the public service, must be entitled to his or her pension benefits. he added.

He also warned the retirees against dealing with scrupulous or fraudulent groups affiliating themselves with the state government to fast track their pension entitlement.