LASG HAS PAID OVER N38 BILLION TO 9,865 RETIREES FROM MAY 2019 TO DATE – COMMISSIONER

(L-R) Mr. Babalola Obilana, Director-General – Lagos State Pension Commission, presenting a retiree, HRM Oba Mufutau Adewale Oyekan, his Bond Certificate, alongside Mr. Olumuyiwa Oshin, Executive Director Finance and investment, Lagos State Pension Commission during the 92nd Bond Certificates Presentation Ceremony held at Alausa Ikeja.LASPEC Urges Retirees to Report PFAs Making Excessive Demands

The Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, has disclosed that since the inception of Governor Babajide Sanwo-Olu’s Administration, the Lagos State Government has paid over N38 Billion Accrued Pensions Rights to 9,865 retirees from the Lagos State Civil Service.

Speaking at the 92nd Bond Presentation Ceremony recently held in Ikeja, where 515 retirees’ Retirement Savings Accounts were credited with the total sum of N1.520 Billion, the Commissioner reiterated that the Lagos State Government prioritises the wellbeing and welfare of all its staff, especially retirees.

Ponnle said: “The State Government recognises the plight of its retired workers who had served diligently in the Lagos State Public Service. As such, the need to safeguard their financial security after service must be prioritised”.

“Let me assure you that Lagos State has not forgotten you. Your welfare and wellbeing are top priority and the State Government is relentless in its pursuit to improve your retirement life”, she added.

The Commissioner assured the retirees that the present administration will make continuous efforts to ensure prompt payment of its pension obligations within available limited resources.

“We have promptly paid the pension entitlements of retirees under the Pay As You Go Pension Scheme monthly. LASPEC also ensures the payment of accrued pension rights to retirees under the Contributory Pension Scheme so that our retirees can access their Retirement Savings Accounts (RSA) without delay”, she stated.

In response to complaints by some retirees that few PFAs are making excessive demands from them, the Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, urged retirees to report irresponsible Pension Fund Administrators to the agency, adding that the State Government will not tolerate the maltreatment of its retirees by anyone.

Obilana also averred that part of strategies to accomplish Mr. Governor’s goal of the immediate payment of pension entitlements after retirement from the Public Service is constant reviews of the business process by LASPEC to ensure enhanced service delivery to retirees.

He further advised retirees to shun individuals or associations claiming to have affiliation with the State government or LASPEC in order to fast-track their pension entitlements, saying: “We do not use intermediaries at LASPEC, we operate an open-door policy”.

»LASG HAS PAID OVER N38 BILLION TO 9,865 RETIREES FROM MAY 2019 TO DATE – COMMISSIONER«

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