Lagos pays 275 retirees N1bn pension
By ABDUL OLALEKAN
275 retirees of the Lagos State civil service have received N1.002 billion as their pension entitlement for the month of May, 2016.
To this end, the benefiting retirees were recently presented their Retirement Benefit Bond Certificates by the Lagos State Pension Commission (LASPEC) in Alausa, Ikeja, Lagos State.
A statement from LASPEC and made available to Business 247 over the weekend, said the payment has brought the number of retirees paid between August 2015 to May, 2016 to 3,344, noting that the total accrued pension rights for years, spent under the Pay As You Go pension scheme paid on behalf of retirees by the State Government from the aforementioned month to date is N14. 703, 856 billion.
While speaking at the 27th batch Retirement Benefit Bond Certificate Presentation, Director-General, LASPEC, Mrs. Folashade Onanuga, advised the benefiting retirees to make judicious use of the money being presented, because, this turns it to assets.
Onanuga, who was represented by the Head of Technical Directorate of LASPEC, Mr Olawale Otun, informed the retirees that the activity of the pension fraudsters who always put calls through to retirees, informing them of alleged short payments in their entitlements, has been reduced drastically, due to the steps taken by the commission, by sensitising the people.
In appreciation, the enthusiastic retirees wished the administration the best as it continues to take Lagos to a higher level.
In another development, the Lagos State Pension Commission’s DG, Mrs Folashade Onanuga has emerged as the Pension Amazon of the year and Lagos State Government as the Most Pension Compliant-State in the 3rd edition of BusinessToday Online Pension and Insurance Awards 2015.
Speaking, in her opening remarks, Onanuga disclosed that the dynamism and commitment of the State has made Contributory Pension Scheme to be a success compared to other states.
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