30th August, 2023
The Lagos State Government has paid N2 billion to 644 retirees, for their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.
The Director-General, Lagos State Pension Commission (LASPEC), Babalola Obilana, disclosed this on Wednesday at the 101st Batch retirement bond certificate presentation in Ikeja.
Obilana said the retirees had dedicated their time, energy and talents to the State, saying that the presentation of certificate is a testament of their unwavering commitment.
“These Retirement Bond Certificates symbolize more than just financial rewards; they represent the trust and confidence we have in our retirees. They are a testament to the lasting impact you have made. Your dedication has been the bedrock of the “Goal of a Greater Lagos”, and your hard work has set a high standard for those who will carry the State forward.
“Today, the administration of Governor Babajide Sanwo-Olu will present another set of 644 retirees with a sum of N2,017,080,548.51 only, being their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007,” he stated.
Obilana thanked Governor Babajide Olusola Sanwo-Olu who has worked assiduously to ensure the consistent payment of pension liabilities and first class service to the retirees.
Olawale Musa, Permanent Secretary, Lagos State Ministry of Establishments, Training and Pensions, lauded Sanwo-Olu for prioritising the welfare of public service workforce even in retirement.
He advised the retirees to be prudent with their money and to be careful about choosing investment options.
He also admonished the retirees to feel free to reach out to LASPEC or to the ministry for any pension-related information or further clarifications.
“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement be filled with joy, fulfilment and new experiences,’’ Musa said.