LAGOS PAYS N891 MILLION TO 324 RETIREES

Nigeria, August 2, 2016 – The Lagos State Government said it has paid the sum of N891 million to 324 retirees from the mainstream civil service, local governments, state universal basic education and other parastatals for the month of July, 2016.

Speaking at the 29th Retirement Benefit Bond presentation ceremony recently, the Director-General, State Pension Commission (LASPEC), Mrs. Folashade Onanuga advised the beneficiaries to use the lump sum payment by their respective Pension Fund Administrator judiciously.

She emphasized that the State government has fulfilled her own part of paying the retirees’ entitlements and that it is now left for the Pension Fund Administrators /Annuity Service Providers to fulfil their part of the arrangement by ensuring that monthly payment to retirees are made.

While reiterating that the commission will continue to monitor the activities of pension operators to guarantee that they continue to fulfil their obligations to the State retirees, Onanuga implored beneficiaries to seek professional advice when making an investment decision with their payment.

It will recalled that the sum of N16,336,552 billion had already been paid to 3,924 retirees by the Lagos State Government as accrued pension rights through LASPEC from August 2015 to July, 2016.

In a related development, a non-governmental organisation, ‘Comfort the Discomfort International Charitable Foundation’ has commended Governor Akinwunmi Ambode of Lagos State for his magnanimity on the regular payment of pension and arrears to retirees, especially in view of the economic downturn in the State and the Nation at large.

According to the Chairman of the NGO, Pastor J.O. Odetunde, “You took the bull by the horn at a time many States in the federation are indebted to those who are still in active service”, applauding the administration for implementing programmes with humane disposition which portrays it as a government for humanity and posterity.

However, it urged the government to consider provision of health packages such as routine medical checks and free medical facilities at public health institutions to the retirees as well as making recreational facilities available for them to manage loneliness and enhance unbroken interrelationship among the retirees, stressing that the recreational activities could be zoned on Local Government basis.