Lagos pays N1.51bn accrued pension rights

The Lagos State Government has paid an accrued pension rights of N1.51 billion into Retirement Savings Accounts (RSA) of 426 retirees in the public service.

The Director General, Lagos State Pension Commission (LASPEC) Mrs. Folashade Onanuga, disclosed this at the 69th Retirement Benefit Bond Certificate Presentation Ceremony held in the state recently.

Onanuga stated that the governor, Babajide Sanwo-Olu, has the interest of retirees at heart thus, he has been very consistent in granting approvals in billions to clear off outstanding accrued pension rights.

She appreciated the retirees for contributing their quota and making a meaningful impact during their service years to the state.

She reiterated the government and the commission’s commitment towards ensuring that as people retire, they will transit to paid pensioners not later than two months after retirement.

“The government is committed to clearing the backlog and hence payment of a huge amount of N1.514 billion for the month of November. In October, an amount of N1.15 billion was paid and in December, a projected amount of N1.5billion will also be paid,” she said.

Onanuga, concluded by advising the retirees that health is wealth and they should be moderate in everything they do to enable them live a longer and healthier life.

The Sun

Featured Video