The Lagos State Government paid over N38 billion as pension to 9,865 retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals between May 2019 and last month, Commissioner for Establishments, Training and Pensions Mrs. Ajibola Ponnle has said.
She spoke at the 92nd Retirement Bond Certificate Presentation to retirees of the state public service at Alausa, Ikeja, Lagos.
She said N1.52 billion was credited to the Retirement Savings Accounts (RSA) of 515 retirees last month alongside their monthly contributions.
Mrs. Ponnle noted that the government was paying monthly pension entitlements to retirees under the Pay As You Go Pension Scheme monthly and Contributory Pension Scheme (CPS)
Presenting the certificates to the retirees, she said the government recognises the plight of workers who have served in the public service and the need to safeguard their financial security after service.
She stated that the Governor Babajide Sanwo-Olu-led administration had prioritised the prompt payment of the pension obligations within its resources.
She said: “Despite huge liabilities, we have promptly paid the pension entitlements of retirees under the Pay As You Go Pension Scheme monthly, while LASPEC ensures payment of accrued pension rights to retirees under the Contributory Pension Scheme so our retirees can access their Retirement Savings Accounts (RSAs) without delay.
“Today, under the administration of the governor, the state has, once again, honoured its obligations as stated in the amended Lagos State Contributory Pension Scheme Law, by the presentation of Bond Certificates to the 92nd batch retirees from the state Public Service.
“Let me assure you that Lagos State has not forgotten you. Your welfare and well-being are top-priority and the state government is relentless in its pursuit to improve your retirement life.’’
The Director-General, Lagos State Pension Commission, Mr. Babalola Obilan, added that the efforts of the governor towards the success of the CPS could not be overemphasised.
“Despite rising recurrent expenditure and the current economic climate, the state government has made continuous monthly payments a priority to ensure retirees access their retirement benefits as soon as possible. LASPEC also reviews its business processes to ensure first class service delivery to our dear retirees.”
He urged retirees to beware of any individual or associations that claim to be affiliated with the government and could process or fast-track their pension entitlements for a fee.