The Lagos State Government has paid 180 retirees from its civil service, local governments, Universal Basic Education Board, teachers’ establishment and pension office and other parastatals pension entitlements worth N918.70m.
A statement by the state pension office said the payment brought the number of retirees paid between August, 2015 to August, 2016 to 4,104, while the total accrued pension rights paid by the state government totalled N16.95bn.
Speaking at the 30th retirement benefit bond presentation ceremony in Lagos recently, the Director-General, Lagos State Pension Commission, Folashade Onanuga, reiterated the commitment of the Governor of Lagos State, Mr. Akinwunmi Ambode, to the wellbeing of both serving and retired officers, and to all residents of Lagos State.
She advised the retirees to live modestly and focus on healthy living rather than engage in frivolous spending, which rather, than add value to their living would diminish it.
She encouraged them to maintain one form of exercise or the other and also beware of pension fraudsters.
In a related development, LASPEC has received another award of excellence at the Nigerian Insurance and Pension Awards organised by Inspenonline Media.