Lagos Pays N30bn To Retirees In Two Years

Lagos State has paid over N30 billion to retirees in two years, the Director-General, Lagos Pension Commission (LASPEC), Mr. Babalola Obilana, has said.

The payment, according to him, was made in the two years of the Babajide Sanwo-Olu’s administration.

Obilana made this known during the Retirement Bond Certificates’ Presentation to the 85th Batch of Contributory Pension Scheme Retirees in Ikeja, Lagos.

He said it had shown accrued pension rights due to them for their years spent in the service of the state under the discontinued Defined Benefit Scheme (DBS).

He stated that the state has consistently prioritised the payment of pension contributions and this month, about N1.1billion has been credited into the Retirement Savings Accounts (RSAs) of 329 retirees.

He said: “The commitment of the governor to the efficient and effective administration of the Contributory Pension Scheme in our state is evident in these monthly payments.

“I would like to thank the governor and this present administration for their unflinching support and resources for retirees. The Pension Fund Administrators and insurance companies have also been relentless towards the success of the Scheme. I enjoin all the retirees to take very good care of themselves.”