Lagos Pays N42bn Pension Entitlements To 11,349 Retirees- Nigeria.

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Lagos State Government has paid N42bn accrued pension rights to 11,349 retirees in the state.

The Commissioner for Establishments, Training And Pensions, disclosed this during the 95th retirement bond presentation ceremony; to retirees of the Lagos State public service.
The commissioner stated that, “We frequently assess our policies to maintain our role as the leader in the payment of pension benefits in Nigeria.

Presently, we are working on various reforms that would have significant impact on the welfare of retirees in the state.”
The Director-General, Lagos State Pension Commission, Mr Babalola Obilana, said since Lagos adopted the Contributory Pension Scheme in 2007; it had not forgotten officers on the Defined Benefit Scheme.
“Despite various economic and financial challenges, employee and employer’s contributions are remitted promptly into individual employees’ Retirement Savings Accounts monthly.”

LASPEC, he noted, was constantly reviewing its business processes to ensure optimal service delivery to its retirees. Also note that no officer in LASPEC will ask you for money to process your payments.”

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