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Lagos Pays N40.9b to 9,982 Retirees

By Dipo Olowookere

A total of 9,982 retirees have received accrued pension rights of N40.9 billion into their Retirement Savings Accounts from 2015 to date, the Lagos State government has said.

From the amount, the sum of N688 million was paid to 178 retirees from the Lagos State public service for the month of October 2018.

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Lagos State Commissioner for Establishments, Training and Pensions, Mr Akintola Benson-Oke, while speaking at the 56th Retirement Benefit Bond Certificate Presentation Ceremony in Ikeja, educated the latest beneficiaries on ways to effectively cultivate a healthy lifestyle in retirement.

He said the present administration was committed to ensuring the regular payment of all terminal entitlements.

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According to him, the state government has developed a strategic system for the payment in spite of the huge liabilities.

On her part, Mrs Folasade Onanuga, Director-General, Lagos State Pension Commission (LASPEC) advised the retirees to spend wisely in retirement.

During the meeting, the retirees unanimously expressed their gratitude to Governor Akinwunmi Ambode for his efforts in ensuring prompt payment of retirees’ entitlements in Lagos State.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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