LASG pays 563 retirees accrued Pension rights of 2.2 billion

Mrs. Folashade Onanuga
Director General,LASPEC
Mrs. Folashade Onanuga Director General,LASPEC

In fulfilment of the promise  made by the State Government to clear the outstanding Contributory Pension Scheme Pensioners accrued  pension rights, the Lagos State Pension Board issued Retirement Benefit Bond Certificates for a total sum of N2.256 billion to 563 retirees from the Mainstream Service, Local Government, SUBEB, TEPO and Parastatals of Government.

Speaking at the 20th Retirement Benefit Bond Presentation Ceremony held between the 28th – 30th of October, 2015, the Director-General of the Board, Mrs. Folashade Onanuga stated that the State Government commenced monthly payment of terminal entitlements in August, 2015 and in the last three months, a total sum of N6,807, 781,847.50 had been paid to 1,754 retirees. She stated that the State Government remains committed to the welfare of its workers, both serving and out of Office.

The Beneficiaries appreciated the Governor of Lagos State, Mr. Akinwunmi Ambode for his magnanimity and for having the fear of God, which made him to keep to his promise of paying monthly. They commended the Director- General and Staff of LASPEB for their hard work, and commitment to the cause of the Pensioners. They requested that LASPEB should direct the Pension Fund Administrators to process the payment of their Lump sum and monthly pension immediately as there have been instance of delays on the part of the Pension Operators.

The retirees also stated that the PFAs, many times, deceived them into signing a particular Programme against their wish. The Director-General stated that this is illegal and advised the retirees to report any such act to the Pension Board.


Lawal, B. A. (Mrs.)