Lagos Govt disburses ₦1.52bn to 798 retirees, pensioners hail prompt payment

By Olasunkanmi Akoni

Lagos — The Lagos State Government has disbursed status enslaved certificates worthy ₦1,520,223,053.19 to 798 retirees arsenic portion of their accrued work benefits nether the Contributory Pension Scheme (CPS).

The certificates were presented astatine the 110th Batch Retirement Bond Certificate Presentation ceremonial held successful Alausa, Ikeja, wherever hundreds of retirees were contiguous to person their entitlements.

Speaking astatine the event, the Director-General of the Lagos State Pension Commission (LASPEC), Babalola Obilana, said the motion reflected Governor Babajide Sanwo-Olu’s committedness to ensuring retirees get their benefits without delay.

“Today’s ceremonial is simply a testament to the committedness of the Lagos State Government towards the well-being and fiscal information of its workforce. It signifies the fulfilment of obligations nether the CPS,” Obilana said.

He explained that Lagos operates a pay-as-you-go pension system, which allows for timely colony erstwhile documentation is completed. He added that LASPEC has consistently worked with Pension Fund Administrators, annuity work providers, and MDAs to guarantee creaseless pension processing.

Obilana advised retirees to marque omniscient decisions connected however to put oregon walk their status funds.

On behalf of the beneficiaries, Mrs. Funto Olaitan Aina, a retired unit of the Ministry of Environment and Water Resources, and Mr. Olayinka Ramoni Alaka, a retired municipality planner, expressed gratitude to the Sanwo-Olu administration, describing the disbursement arsenic timely and impactful.

“I retired past year, and I americium getting my enslaved certificate conscionable a twelvemonth after. The outgo was prompt. We convey the Lagos State Government for making this a reality,” Aina said.

Alaka, who besides retired past year, said helium would put portion of his benefits successful his business. He commended Lagos for sustaining a strategy that ensures retirees are not near stranded.

“From what I person seen successful different states, galore pensioners are inactive waiting, but Lagos pays promptly. The process has been seamless,” helium added.

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