The Lagos State Government said it disbursed N742m accrued pension rights to 255 retirees in August.
In a statement obtained from Lagos State Pension Commission, during the 42nd retirement bond certificate presentation, Governor Akinwunmi Ambode said that Lagos State cared for its pensioners and was committed to being up-to-date in pension payment.
Ambode, who was represented by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Oke, advised the retirees not to live extravagantly.
He said that in two years, between August 2015 and August 2017, the state, through LASPEC, paid N30bn into the Retirement Savings Accounts of 7,232 retirees in form of accrued pension rights.
The Director-General, LASPEC, Mrs. Folashade Onanuga, advised the retirees on healthy living.
She urged beneficiaries, who have relatives and friends that are still in service, on the importance of making Additional Voluntary Contributions into their RSAs.
Onanuga said, “The deduction field for AVC is now on the state government’s oracle HR application. The AVC will guarantee more comfortable life for retirees as the funds are invested and can be accessed immediately by a retiree on retirement. It can also be used to boost pension received in retirement.”
According to the statement, the retirees that were paid are from the mainstream civil service, local governments, the State Universal Basic Education Board, Teachers Establishments and Pensions Office under the Contributory Pension Scheme.
A retiree, Isiaka Adeniji, who spoke during the bond presentation, thanked the state for its commitment to paying pensioners’ entitlements.
“The LASPEC has good disposition towards us and they are always respectful and warm in their dealings with us,” he said.
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