BY NKECHI NAECHE-ESEZOBOR–A total of N50.7 billion was paid to 13,928 retirees from 2019 till date, the Lagos State government has said.
The Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, disclosed this during the 100th Retirement Bond Certificate Presentation Ceremony, organised by the Lagos State Pensions Commission ( LASPEC), in Lagos.
She also disclosed that it paid accrued pension rights of N5 billion into the Retirement Savings Accounts of 1,768 retirees this month, alongside their monthly Contributions.
The Commissioner who was represented by the Permanent Secretary, Office of Establishments and Training, Mr Olawale Musa, said that the payments were made to retirees in the mainstream, local government, State Universal Board, Teaching Service Commission and other state parastatals.
She noted that the administration through the Lagos State Pension Commission collaborates frequently with Policy Makers and Stakeholders in the industry to strengthen the governance, management and effectiveness of the CPS in the State. We are currently working on some reforms based on global best practices to reduce post-retirement financial difficulties.
She assured that the state is committed to building an environment that is safe, secure and sustainable for all residents of Lagos State.