Lagos State Govt Remit N1bn Pension Funds To 287 Retirees

The Lagos State Government has said that 287 of its retirees have received the sum of N1 billion in their retirement savings accounts (RSA).

This was disclosed at the 86th bond presentation ceremony in Lagos by the Director-General, Lagos State Pension Commission, Babalola Obilana. He said the gesture was in fulfillment of the government’s agenda to provide succor to pensioners.

While reiterating the commitment of the state government to the welfare of its retirees, he 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.

Obilana explained that the bond certificates’ payments were based on their past service benefits before the commencement of the Contributory Pension Scheme in 2007.

He lauded the efforts of the state government in the payment of the contributory pension.

“The efforts of the Babajide Sanwo-Olu administration towards the success of the contributory pension scheme cannot be overemphasised. The state government has made continuous monthly payments a priority to ensure retirees have access to their retirement bond benefits,” he said.