Lagos Pays N912m to another batch of retirees


The Lagos State government has paid accrued Pension rights of N912 million to 165 retirees mainly from Local Government and State Universal Basic Education Board (SUBEB). Other beneficiaries are Lagos State Civil Service (Mainstream), Teachers Establishment and Pension Office and other Parastatals, under the Contributory Pension Scheme for the month of March, 2016. The Honourable Commissioner, Establishments, Training and Pension, Dr. Akintola Benson Oke, disclosed this during the presentation of retirement benefit bonds to the 25th batch of the retirees in the State on Friday, April 1, 2016. Oke said, “The monthly payment of accrued pension rights, being entitlements of retirees under the old Pension Scheme dispensation is a giant stride in the administration of the Governor of Lagos State, Mr. Akinwunmi Ambode. In the last seven months till February, a total number of 2,654 pensioners had been paid accrued pension rights of N11.4bn.” Speaking earlier, in her Welcome Address, the Director-general, Mrs. Folashade Onanuga said that the Lagos State Government through LASPEC has been able to put smiles on the faces of a total number of 2,815 retirees and amount expended as accrued pension rights is approximately N12.4bn. in a period of eight months. To ensure the backlog was cleared, she said that since August last year, the Commission had been crediting the RSAs of retirees with their accrued pension rights on a monthly basis. Despite the fact that there were many projects contending for State’s meagre resource in the face of the dwindling oil prices, she appreciated the commitment of the State government in making its retirees happy. She advised the beneficiaries to put the funds in ventures that would give those returns. She was also quick to remind them that due to the harsh economic climate, a lot of fraudsters are on the prowl, and therefore, they should be very vigilant and also be free to report any inadequacy they experience from their Pension Fund Administrators to the Commission. She also warned the retirees not to pay money to anyone promising to help them collect any short paid amount from the State or Federal Government because it would be deceitful. In appreciation, one of the retirees who spoke on behalf of others prayed for the administration of Mr. Akinwunmi Ambode. He wished him success as he continues to make Lagos State the envy of other States. Lawal, B.A. (Mrs.) Public Affairs Unit