Lagos Assures Speedy Resolution Of Pension Issues, Prompt Payment Of Entitlements

Lagos Assures Speedy Resolution Of Pension Issues, Prompt Payment Of Entitlements

The Lagos State Government has once again restated its commitment to the speedy resolution of all pension issues in the State and pledged to ensure the prompt payment of pensioners’ entitlements.

The Director-General (DG), Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana made the disclosure at the 83rd Bond Presentation Ceremony to 366 pensioners, whose Retirement Savings Accounts (RSAs) were credited with a total sum of N1,494,043,792.31 (One Billion, Four Hundred and Ninety-Four Million, Forty-Three Thousand, Seven Hundred and Ninety-Two Naira, Thirty-One Kobo).

Speaking during a brief ceremony at the LASPEC Hall, NECA House, Alausa, Obilana said that LASPEC is fully committed to ensuring that retirees receive their terminal benefits when due.

He stated that LASPEC was established to take care of the needs of retirees, a role the Commission has been performing diligently and will continue to devote itself to, saying “we are dedicated to the retirees’ welfare because we know that they have worked so hard for the progress of the State. Now is the time for them to reap the benefit.”

While expressing gratitude to the retirees for always cooperating with the Agency and adhering to laid down rules, the DG explained that the practice has resulted in reduction of delay in payment of their entitlements.

“We could have sent these Bond Certificates to everyone at home, but we deemed it proper for everyone to be here so that we can reiterate that LASPEC is open to all for questions. It gives us great joy that there has been a big reduction in reports of retirees being swindled of their entitlements”, he noted.

Obilana urged the retirees to be wary of swindlers and crooks who are out to con them of their hard-earned money, maintaining that LASPEC will not call or send messages on fees required for payment of entitlements.

Speaking further, the LASPEC boss expressed gratitude to the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, for his swift response to pension matters, just as he emphasised the Governor’s unalloyed commitment to retirees’ welfare.

He disclosed that in order to improve on the current system, the State is currently working on a model that will ensure retirees get their entitlements as soon as they disengage from service.

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