Home News Lagos pays N892m accrued pension rights

Lagos pays N892m accrued pension rights


The Lagos State Government has confirmed the payment of N892 million into the Retirement Savings Accounts of 156 retirees for the 50th batch of beneficiaries under the Contributory Pension Scheme.

A statement issued by the commission on Sunday, indicated that the state governor, Akinwunmi Ambode, gave the hint during the retirement bond presentation, adding that prompt payment of pensioners in the state remained a priority of his administration.

The governor, who was represented at the event by the state Commissioner for Establishments, Training, and Pensions, Dr. Akintola Oke, said that government was committed to paying pensions monthly.

The Director-General, LASPEC, Mrs. Folashade Onanuga, was quoted as urging the beneficiaries to carefully go through the handbills on programmed withdrawal and annuity options provided by the state government to ensure efficient management of their benefits.

She explained to the retirees the new development in the programmed withdrawal pension benefit option as it related to pension enhancement for those who have been on a static pension for a minimum of five years, and the issue of minimum guaranteed pension.