Lagos State Pensioners Set to Receive N1.5 Billion

pension fund
  • Lagos State Pensioners Set to Receive N1.5 Billion

The Lagos State government has said its pensioners will today, Friday 23rd August 2019, receive a total of N1.5 billion as an accrued pension.

This was disclosed through the Lagos State Pension Commission (LASPEC).

According to the statement, pensioners  including; local government retirees, retirees from the State Universal Basic Education Board (SUBED), retirees from the Teaching Service Commission (TESCOM) and retirees from the mainstream service, would receive the pension funds in their Retirement Savings Account, under the Contributory Pension Scheme; an extension of the former Pay As You Go Pension Scheme.

The statement reads; “As part of its regular payment of retirement bonds to its pensioners, the commission urged its invited beneficiaries for the month of August to come for the collection of their retirement benefits bond certificates.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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