Lagos pays N1bn to 246 retirees

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The said it paid N1bn into the Retirement Savings Accounts of 246 retirees in its public .T


It said this in a on Friday titled ‘Lagos pays N1bn to another of retirees’.


The said the beneficiaries included employees the mainstream , local , State Universal Basic Board, Teaching Service Commission and other parastatals of the State .

The -, Pension Commission, Mr Babalola Obilana, stated that since the inception of the present administration, the government had consistently paid retirees their monthly entitlements including the of some pension backlogs inherited previous administrations.

While addressing retirees at the 80th retirement benefit bond certificates presentation ceremony held on Friday in Lagos, he congratulated the retirees for rendering meritorious service to the state.

He informed the retirees that despite the state of the nation and the aftermath of the global COVID-19 , the government in line the vision of a greater Lagos and its commitment to financial freedom for retirees ensured the of pension entitlements.

“This shows the commitment of Mr Governor to the welfare of pensioners in the state,” he said.

The - enlightened the retirees on the two options available for accessing their monthly pension entitlements – programmed 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 them.