Two hundred and twenty-two retirees who are under the Contributory Pension Scheme (CPS) in Lagos State have been paid N1.04 billion, the Director-General, Lagos State Pension Commission (LASPEC), Babalola Obilana has said.
He made this known during the Presentation of Retirement Bond Certificates to the 91st batch of retirees at Alausa, Ikeja.
He said praised the efforts of Governor Babajide Sanwo-Olu towards the success of the CPS. He maintained that despite the challenges, the government had made efforts to prioritise monthly payments and ensure retirees access their retirement benefits.
He said the state government recognised the dedication of public servants and was compliant in the remittance of pension contributions into individual employees’ Retirement Savings Accounts (RSA).
He said: “We are happy to note that Lagos State is one of the few states in the federation that does not owe monthly pension contributions. Both employees and employers’ contributions are remitted promptly after salaries are received. Governor Sanwo-Olu takes matters concerning retirees to heart and as such pension contributions are prioritised in the State’s Annual Budget.
“Also, LASPEC reviews its business processes to ensure first-class service delivery to retirees because it is a service-oriented organisation.The administration is working tirelessly towards ensuring that retirees’ backlogs are paid before the end of the present administration’s first term and the Commission is focused on accomplishing Mr. Governor’s goal of the immediate payment of pension entitlements upon retirement from the Public Service.”
He urged that the Commission be informed of any retiree who might have one ailment or the other to fast-track the payment of their entitlements.
He enjoined retirees to shun people forming associations and requesting a fee to quicken the payment of their benefits.
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