We Paid N841m to 141 Retirees in February –Ambode

• We Paid N841m to 141 Retirees in February –Ambode

The Lagos State Government said it had released N838m for the payment of accrued pension rights of 141 retirees under the Contributory Pension Scheme for the month of February.

The Lagos State Governor, Akinwunmi Ambode, who disclosed this during the 48th retirement benefit bond certificate presentation ceremony in Lagos, thanked the retirees for their diligent service to the development of the state and wished them a better life in their old age.

The governor, who was represented by the Commissioner for Establishments, Training and Pensions, Dr. Benson Oke, said 8,548 retirees had accrued pension rights of N34,78bn paid into their Retirement Savings Accounts since he (the governor) came on board in 2015.

He implored the retirees to put their money in business they could manage and not one that would jeopardise their health.

The Director General, LASPEC, Mrs. Folashade Onanuga, promised that the payment of the accrued pension rights would continue to be made monthly by the administration.

She said, “The payment is well structured, transparent and efficient, and is based on the law of equity. Hence, payment is made without the need for any retiree to follow up as we have all the information we need to ensure payment at the due time.”

The director-general assured all the retirees that the pensioners’ ID card was work in progress and would be provided as soon as necessary approval was obtained.