LAGOS (Sundiata Post) – No fewer than 324 retirees of the Lagos State Government were paid N891 million pension entitlement for the month of July, 2016.
The benefiting pensioners were workers who retired from the mainstream civil service, local governments, State Universal Basic Education and other parastatals of state government.
Speaking at the 29th Retirement Benefit Bond presentation ceremony which took place in Alausa, Ikeja, Lagos, Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, advised the beneficiaries to judiciously utilise the lump sum they would be paid by their different Pension Fund Administrators (PFAs). She also implored them to be careful in the kind of businesses they will invest the pension benefits into, urging them to only engage in businesses they are familiar with so as not to be cajoled by fraudsters.
Onanuga said the Lagos State government had fulfilled her own part of paying the retirees’ entitlements, and that it was now left for the PFAs/Annuity Service Providers to take over the responsibility of paying the retirees their lump sum and pension monthly. She reiterated that the commission will continue to monitor the activities of the pension operators to ensure that they continue to fulfil their obligations to the state retirees.
The LASPEC DG disclosed that a total sum of N16.3billion had been paid to 3, 924 retirees by the State Government as accrued pension rights through LASPEC in the last 12 months(from August 2015 to July, 2016).
In a related development, a non-governmental organisation, Comfort the Discomfort International Charitable Foundation, has appreciated and commended the Governor of Lagos State, Mr. Akinwunmi Ambode for his magnanimity in the payment of the arrears of pensions at this crucial moment of economic downturn in the state and the nation at large.
According to the chairman of the organisation, Pastor Odetunde J.O, “you took the bull by the horn at a time many States of the federation are indebted to those who are still in the active service.”
The benefiting pensioners were workers who retired from the mainstream civil service, local governments, State Universal Basic Education and other parastatals of state government.
Speaking at the 29th Retirement Benefit Bond presentation ceremony which took place in Alausa, Ikeja, Lagos, Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, advised the beneficiaries to judiciously utilise the lump sum they would be paid by their different Pension Fund Administrators (PFAs). She also implored them to be careful in the kind of businesses they will invest the pension benefits into, urging them to only engage in businesses they are familiar with so as not to be cajoled by fraudsters.
Onanuga said the Lagos State government had fulfilled her own part of paying the retirees’ entitlements, and that it was now left for the PFAs/Annuity Service Providers to take over the responsibility of paying the retirees their lump sum and pension monthly. She reiterated that the commission will continue to monitor the activities of the pension operators to ensure that they continue to fulfil their obligations to the state retirees.
The LASPEC DG disclosed that a total sum of N16.3billion had been paid to 3, 924 retirees by the State Government as accrued pension rights through LASPEC in the last 12 months(from August 2015 to July, 2016).
In a related development, a non-governmental organisation, Comfort the Discomfort International Charitable Foundation, has appreciated and commended the Governor of Lagos State, Mr. Akinwunmi Ambode for his magnanimity in the payment of the arrears of pensions at this crucial moment of economic downturn in the state and the nation at large.
According to the chairman of the organisation, Pastor Odetunde J.O, “you took the bull by the horn at a time many States of the federation are indebted to those who are still in the active service.”
He commended this administration for implementing programmes with humane disposition that portrays it as one who laboured for humanity and posterity.
