Business Post Contributor
By Sodeinde Temidayo David
The Lagos State Government has disclosed that it has paid 291 retirees of the state’s public service an amount of N1.29 billion accrued pension benefits for the month of September.
This was made known by the Director-General for the Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, during the retirement bond certificates presentation to the 89th batch of Contributory Pension Scheme (CPS) retirees in Lagos on Tuesday, October 5.
According to him, the fund has been paid into the Retirement Savings Account (RSA) of the beneficiaries.
Speaking at the event to commemorate the celebration of public servants in the state, Mr Obilana said, “This event has been put together to celebrate you our retirees and also present to you your retirement bond certificate, showing accrued pension rights due to you for the years spent in the service of Lagos State under the discontinued Defined Benefit Scheme (DBS).”
Mr Obilana further expressed that one of the outcomes of the Governor’s commitment was the regular issuance of the certificates to retirees of the state’s public service.
In response, the retirees commended Lagos for helping them process their pension, and also probed the workings of the annuity and programmed withdrawal options for payment of their pensions.
The Lagos pension body chief, while reiterating the commitment of the state government to the welfare of its retirees, said it would remain consistent in the implementation of the contributory pension scheme in line with the provisions of the state’s amended pension law.
