180 Lagos retirees get N919m pension entitlement

The Lagos State Government has paid a sum of N919 million pension entitlement to 180 retirees who retired from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pension Office (TEPO) and other parastatals of the state.

The N918.7 million was paid as August pension entitlement to the benefiting retirees.

The payment has brought the number of retirees paid between August, 2015 to August, 2016 to 4,104, while the  total accrued pension rights paid by the state government for the period, amounts to N16.951 billion.

Speaking at the 30th Retirement Benefit Bond Presentation Ceremony, which took place between Monday, 29th to Tuesday, 30th August 2016 in Alausa, Ikeja, Lagos, the Director-General, Lagos State Pension Commission (LASPEC), Mr. Folashade Onanuga, reiterated the commitment of the Governor of Lagos State, Mr. Akinwunmi Ambode, to the well being of both serving and retired officers, and to all residents of the state.

She advised the retirees to live modestly and focus on healthy living rather than engage in frivolous spending which, rather than add value to their living, will diminish it. She encouraged them to maintain one form of exercise or the other and also beware of pension fraudsters.