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Lagos Retirees Share N838m as Accrued Pension Rights

By Modupe Gbadeyanka

The sum of N838 million has been released by the Lagos State government for the payment of accrued pension rights of 141 retirees under the Contributory Pension Scheme for the month of February 2018 while also applauding the retirees for their diligent service to the development of the state.

Speaking at the 48th Retirement benefit Bond Certificate Presentation Ceremony on Wednesday at NECA House, CBD, Ikeja, the State Commissioner for Establishments, Training and Pensions, Dr Benson Akintola Oke, said 8,548 retirees have received N34.781 billion accrued pension rights into their Retirement Savings Accounts since the present administration came on board in 2015.

He implored the retirees to put their money in a business they could manage and not the one that would give them a headache or jeopardize their health.

Mr Akintola Oke stressed further that the State Government is committed to providing retirees incentives that will give them peace of mind in retirement.

“Let me quickly state here with all sense of humility that the Governor Ambode-led administration’s focus on payment of pensioners’ entitlements which has earned the State accolades is borne out of the need to alleviate and eradicate poverty amongst the elderly in our society,” he said.

Earlier, the Director-General, LASPEC, Mrs Folashade Onanuga, promised that the payment of the accrued pension rights will continually be disbursed monthly by the State government in a well-structured manner.

“In LASPEC, payment is made without the need for any retiree to follow up as we have all the information we need to ensure payment at the due time”, she stated.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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