The Lagos State Government has paid N740 million accrued pension rights to another set of 348 retirees. Mr Babalola Obilana, Director General, Lagos State Pension Commission(LASPEC), confirmed this at the 107th batch retirement bond certificate presentation ceremony on Friday in Lagos.
Lagos State Governor, Babajide Sanwo-Olu, announced on Thursday that his administration has paid a total sum of N59,701,420,500.22 to 17,039 retirees over the past five years, marking a new era in pension administration for the state with the introduction of the “Pay-As-You-Go” initiative.
The Lagos state government on Thursday, March 28, disbursed a total of N4.48 billion in pensions to 1,455 retirees for March. The payment was made during the 104th retirement bonds certificate presentation by the Lagos State Pension Commission (LASPEC).
The Executive Governor Of Lagos State presented N3.1 billion to 1,013 happy retirees in an emotionally filled mega bond presentation ceremony.
Lagos State Government through the Lagos State Pension Commission (LASPEC), presented 1.258billion Naira in accrued rights to 605 retirees in the 102nd batch bonds presentation ceremony
LASPEC is the Commission established by the Lagos State Contributory Pension Scheme law 2007 as a corporate entity to regulate, supervise and ensure the effective administration of pension matters in the Lagos State Public Service.