The Lagos State Government has again paid the sum of N1. 337 billion into the Retirement Savings Accounts (RSAs) of 246 Retirees in the State Public Service.
The beneficiaries include employees from the Mainstream Service, Local Government Service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM) and other Parastatals of the State Government.
Speaking at the occasion, the Director General of Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, stated that since the inception of the present administration, Governor Sanwo-Olu has consistently paid retirees their monthly entitlements including the payment of some pension backlogs inherited from previous administrations.
The Director General while addressing retirees at the 80th Retirement Benefit Bond Certificates Presentation Ceremony on October 30, in Lagos, congratulated all retirees for rendering meritorious service to the good people of the State.
He informed the retirees that despite the state of the nation and the aftermath of the global Covid-19 pandemic, the Government in line with the vision of a Greater Lagos and its commitment to financial freedom for Lagos State Retirees, ensured the payment of pension entitlements. “This shows the commitment of Governor to the welfare of pensioners in the State” the DG added.
The Director General used the occasion to enlighten the retirees on the two payment options available for accessing their monthly pension entitlements i.e. Programme Withdrawal and Life Annuity.
He urged the retirees to understand the details of the two options. He also advised them to choose the most appropriate option for their situations.
The retirees expressed their appreciation to the Lagos State Government and received their Bond Certificates.