5th August, 2015
Kazeem Ugbodaga
Lagos State Governor, Akinwunmi Ambode on Wednesday directed Pension Cash Assets to immediately release N11 billion to offset pension liabilities in arrears since 2010.
The money will cover mainstream retirees of the Lagos State Government, retirees in Local Governments and Parastatals.
According to a statement issued by the Head of Service, Mrs. Shade Jaji, the directive is part of efforts by the present administration to find a holistic solution to the issue of payment of pension entitlements to retirees under the Pay-as-You-Go pension Scheme which was discontinued in April, 2007 as well as outstanding accrued pension rights due to retirees under the Contributory Pension Scheme.
Jaji said that the State Government has developed a comprehensive payment plan to resolve all outstanding pension issues in the immediate (short), medium and long terms.
The short and immediate term plan, according to her, is for pension payments to MDAs and Parastatals including Local Governments and the State Universal Basic Education Board, SUBEB, which will be made monthly commencing from August 2015.
The Head of Service said that these efforts were the outcome of painstaking deliberations by the Public Service Pensions Office, the Lagos State Pensions Commission, the Head of Service and the empathy of Governor Ambode to reduce, if not totally clear the outstanding liabilities due to retirees in the mainstream public service, Local Governments/SUBEB and Parastatals in the state.