Lagos pays N31.89bn to 6,078 under Contributory Pension Scheme

Head of Service, Mrs. Shade Jaji presenting Bond Certificate to  Mrs. Olabisi Ramos. With them are, DG LASPEC, Mr. Rotimi Hussain; Executive Director (F & I) LASPEC; Dr. Adekunle Wright and Chairman LASPEC, Mr. Babatunde Dabiri.
Head of Service, Mrs. Shade Jaji presenting Bond Certificate to Mrs. Olabisi Ramos. With them are, DG LASPEC, Mr. Rotimi Hussain; Executive Director (F & I) LASPEC; Dr. Adekunle Wright and Chairman LASPEC, Mr. Babatunde Dabiri.

 

Director-General, Lagos State Pension Commission, Mr. Rotimi Hussain; Commissioner for Establishments, Training & Pensions, Mrs. Florence Oguntuase, Chairman LASPEC, Mr. Babatunde Dabiri and Executive Director, Finance & Investment, Dr. Adekunle Wright.

Director-General, Lagos State Pension Commission, Mr. Rotimi Hussain; Commissioner for Establishments, Training & Pensions, Mrs. Florence Oguntuase, Chairman LASPEC, Mr. Babatunde Dabiri and Executive Director, Finance & Investment, Dr. Adekunle Wright.

Commissioner for Establishments. Training & Pensions, Mrs. Florence Oguntuase presenting bond certificate to Mr. Ayobade Obajimi while the Director-General LASPEC, Mr. Rotimi Hussain and Chairman, Mr. Babatunde Dabiri look on.

Commissioner for Establishments. Training & Pensions, Mrs. Florence Oguntuase presenting bond certificate to Mr. Ayobade Obajimi while the Director-General LASPEC, Mr. Rotimi Hussain and Chairman, Mr. Babatunde Dabiri look on.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Lagos State Government has from inception of the Retirement Bond Certificate presentation in 2010 paid a sum of N31,890,579,183.71K (Thirty-One Billion, Eight Hundred and Ninety Million, Five Hundred and Seventy-Nine Thousand, One Hundred and Eighty-Three Naira, Seventy-One Kobo) to 6,078 retirees under the Contributory Pension Scheme.

 

This was disclosed by the Director-General, Lagos State Pension Commission, Mr. Rotimi Hussain during the 16th Retirement Bond Certificate presentation ceremony where 305 retirees from the State Public Service were paid a sum of N1,411,716,036.95K (One Billion, Four Hundred and Eleven Million,  Seven Hundred and Sixteen Thousand, Thirty-Six Naira, Ninety-Five Kobo) only, being their past service benefits before commencement of the Contributory Pension Scheme.

 

He added that the monthly deduction of 7.5 per cent from the salary of every employee and the counterpart 7.5 per cent contribution by the State Government since inception of the scheme in 2007 has also increased to N56,998,914,047.25K (Fifty-Six Billion, Nine Hundred and Ninety-Eight Million, Nine Hundred and Fourteen Thousand, Forty-Seven Naira, Twenty-Five Kobo) only.

 

Mr. Hussain said that the bond presentation ceremony was in fulfillment of the commitment of the Lagos State Government in its determination to make life worthy of living for its workers whilst still in service and after retirement.

 

He said, “Since the inception of the Contributory Pension Scheme, the administration of Governor Babatunde Raji Fashola, SAN has not relented in its resolve at ensuring that the retirement benefits of its retirees are paid as and when due”.

 

The LASPEC boss stressed that in order for the worthy legacy in pension matters which started during the administration of Asiwaju Bola Ahmed Tinubu and actualized by Governor Babatunde Raji Fashola, SAN not to be derailed, all hands must be on deck to ensure that there is continuity in governance in the Centre of Excellence.

 

While stressing that the laudable achievement in pension matters and other infrastructural and development projects embarked upon by the present administration must not be allowed to suffer a reversal, he urged every Lagosians of voting age to ensure that they exercise their civic duties at the coming elections in order to secure their future.

 

He said, “Please endeavour to collect your Permanent Voter Cards to enable you vote for the continued progress and advancement of Lagos State. It is our sacred duty”.

 

The Head of Service, Mrs. Shade Jaji in her goodwill message, expressed her appreciation to Governor Babatunde Raji Fashola, SAN and members of the State Executive Council for remaining steadfast to the ideals of the Contributory Pension Scheme and ensuring that funds are constantly dedicated to the redemption of the Retirement Bond Certificate, as required by law.

 

While expressing her delight in the fact that the 16th bond presentation was her first ceremonial outing with any class of public officers since her appointment as Head of Service, Mrs. Jaji enjoined the retirees not to turn their back to the service, saying their inputs and suggestions on how to better the lots of the citizenry through improved service delivery would be appreciated.

 

Also in her goodwill message, the Hon. Commissioner for Establishments, Training and Pensions, Mrs. Florence Oguntuase appealed to all retirees in the State to exercise patience with the Government, saying that the present administration met some backlog of pensions and was tackling the issue one after the other.

 

While assuring retirees that the State Government would not relent on its oars at ensuring that their pension benefits are given its priority, she urged Local Governments and Local Council Development Areas (LG/LCDAs) as well as Parastatals  to do the needful as it regards the payment of their retirees.

 

 

 

Taofeek Lawal

Press & Public Relations Officer