Lagos retirees to get N1.5bn under CPS
In a clear affirmation of its commitment to the welfare of its workforce, as well as ensuring that they have a better and fulfilling life after retirement, the Lagos State Government will be paying another set of 234 retirees under the Contributory Pension Scheme, a sum of N1,547,072,068.70K (One Billion, Five Hundred and Forty-Seven Million, Seventy-Two Thousand, Sixty-Eight Naira, Seventy Kobo) only, being their past service benefits prior to the commencement of the CPS in 2007.
This was disclosed by the Director-General, Lagos State Pension Commission, Mr. Rotimi Adekunle Hussain, who in a statement released by the Commission, stated that the retirees would be receiving their retirement benefits during the 15th Retirement Bond Certificates presentation slated for the 30th of December, 2014 at the Nigeria Employers’ Consultative Association (NECA) auditorium in Lagos.
The LASPEC boss added that the ceremony is coming up just in a space of one month after the 14th presentation that was held in November of this year.
Mr. Hussain stressed that the administration of Governor Babatunde Raji Fashola, SAN has since the adoption of the Contributory Pension Scheme in 2007 taken it as a point of duty and utmost importance to always organize the ceremony to present the retirees with their retirement benefits, adding that the retirees are presently enjoying their retirement benefits under the scheme without any rancor or stress.
It would be recalled that as at the 14th Bond Certificates presentation held in November of this year, a total of 5,530 retirees had been paid a total sum of N28,931,971,078.06k (Twenty-Eight Billion, Nine Hundred and Thirty-One Million, Nine Hundred and Seventy-One Thousand, Seventy-Eight Naira, Six kobo) only.
Press & Public Relations Officer