Lagos settles 149 retirees with N723m

The Lagos State Government, LASG on Wednesday released N723 million to pay its 149 retirees for January, 2018.

Contained in a statement issued by the Director-General, DG of the Lagos Pension Commission, LASPEC, Mrs Folashade Onanuga, disclosed that N723 million was paid into the Retirement Savings Accounts, RSA of 149 retirees from the State’s Public Service.

Also, she noted that this had earlier been disclosed at the 47th Retirement Benefit Bond Certificates’ Presentation to the retirees.

Mrs Onanuga, quoting the state governor, Akinwumi Ambode assured that the state government would ensure regular funding of pensioners’ retirement benefits at the event.

Governor Ambode, who was represented by the Commissioner for Establishments, Training and Pensions, Dr Benson Oke, disclosed that the State had expended N33,943 billion to pay accrued pension rights of 8,409 retirees in the last 30 months.

“This is aside the regular monthly contributions into the RSA of its active workers.

“The State has also cleared the backlog of outstanding pension obligations met at the inception of this administration. The State is also determined to settle fresh liabilities from retirement”.

Continuing, Mrs Onanuga, said the Lagos state government would make sure that all retirees that had served the state would get rewarded, adding that the government had started searching for welfare programmes that would give retirees more comfort after retirement.

She, however appealed to the retirees not to succumb to pressure in terms of annuity or programme withdrawal benefit options for the payment of monthly pensions.