Lagos retirees get N4.25b

Lagos retirees get N4.25b

THE Lagos State Government has paid N4.25 billion accrued pension rights to 1268 retirees in four months.

The Commissioner, Establishment, Training & Pensions, Mrs. Ajibola Ponnle made this known at the Lagos State Pension Commission (LASPEC) 66th retirement benefit bond certificate presentation ceremony held in Lagos.

She stated that whilst N2.75 billion was paid to 881 retirees in the last three months, N1.50 billion was paid today to 387 retirees.

She added that the state has remained committed to the welfare of workers and retirees.

She disclosed that the Governor has been briefed about the backlog of outstanding pension entitlements and has promised that more focus will be given to the payment of accrued pension rights.

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She said: “The governor is aware that without the payment of their accrued pension rights, the retirees would not be able to access their retirement savings accounts to draw monthly pension.

“To show commitment, the state has commenced the issuance of identification cards to retirees in its bid to make life comfortable for retirees. This would enable them use to access free medical treatment in the state’s hospitals and ride on the state mass transit buses for free”.

The Director-General LASPEC, Mrs. Folashade Onanuga on her part told the retirees that their Pension Fund Administrators (PFAs) have been directed to ensure that they are quickly granted access to their retirement savings account.

She urged the retirees to be careful of fraudsters, who may pose as helpers and financial experts, stressing also that the men should not use their benefits to marry new wives while the women should avoid unnecessary parties.

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