Pension: Lagos pays N1.51bn to 292 retirees

Lagos pays N1.51bn to 292 retirees

Pension: Lagos pays N1.51bn to 292 retirees


The Lagos State Government (LASG) has said it paid N1.51 billion to another set of 292 pensioners in the state.

In a statement titled ‘Lagos restates commitment to pensioners’ welfare’, it said it remained committed to the payment of all pension entitlements when due.

During the 82nd bond presentation ceremony to 292 pensioners whose Retirement Savings Accounts (RSAs) were credited with N1.51 billion, the director-general, Lagos State Pension Commission, Mr Babalola Obilana, assured retirees of the state government’s dedication to the well-being of its workforce even in retirement.

The statement obtained by Business Metrics on Monday said he spoke during the brief event which held in full compliance with COVID-19 protocols.

Obilana stated, “LASPEC has gone beyond the excuses of retirees waiting endlessly before they can gain access to their funds; the world is moving forward and so are we.

“We are dedicated to our retirees because they have painstakingly contributed their quota towards making a greater Lagos.”

Obilana charged the retirees to ensure that they had proper documentation to avoid delay in payment due to wrong or missing documents.

The retirees were also admonished to be wary not to become victims of fraudsters.

He said, “LASPEC is devoted to ensuring that all entitlements are paid into the right sources after departure from the Civil Service.

“There are many people devising means of defrauding retirees of their dividends from long service.

“That is why we operate an open-door policy to all on pension matters. LASPEC will not call or send you messages to charge you to get your entitlements.”

Obilana thanked Lagos State Governor, Babajide Sanwo-Olu, for making the welfare of the employees a priority and for not withholding funds for retired staff amidst the COVID-19 pandemic and the aftermath of the EndSARS protest.