Nigeria, May 11, 2016 – The Lagos State Government has paid accrued pension rights totaling N48 billion to over 10, 300 retirees to underscore its commitment to improve the well being of former staff.
Commissioner for Establishments, Training and Pensions, Dr. Benson Oke Akintola, who stated this on at the 10th Retirement Benefit Documentation Seminar for employees who are due to retire from the Lagos State Public Service said the State Government will continue to deliver tangible dividends of democracy in spite of the limited resources.
Dr. Akintola, represented by the Permanent Secretary, Civil Service Pensions Office, Mrs. Funmilayo Balogun said prompt payment of the monthly salaries and allowances of all active workers by the Lagos State Government will continue to be the focus of government.
Speaking earlier, the Director General, Lagos State Pension Board, Mrs. Folashade Onanuga said that the total contributions credited into active employees Retirement Savings Accounts managed by the 10 Pension Fund Administrators approved by the State Government, from April 2007 to March 2016 is approximately N64 billion.
She restated that the accrued pension rights of N48 billion paid by the present administration to over 10, 300 retirees has increased the total amount remitted by the State Government as employees’ pension rights under the Contributory Pension Scheme to N112.080 billion.
While commending the Ambode led administration for its dedication and steadfastness despite the myriad of projects competing for the State’s resources, the LASPEC boss used the occasion to thank all the stakeholders who have in one way or another, contributed to the efficient operations of the scheme in Lagos State.
