Lagos fires up Pension awareness drive, vows no worker will be left behind

The Lagos State Government has reiterated its unwavering commitment to the welfare of public servants through renewed efforts to deepen awareness of the Contributory Pension Scheme (CPS).

At a sensitisation programme held on Tuesday, at the Adeyemi-Bero Auditorium, Alausa, Ikeja, public servants were encouraged to embrace proactive pension planning as a vital part of their service journey.

Speaking at the event, the Lagos Head of Service, Mr. Bode Agoro, described the programme as a key initiative designed to equip civil servants with accurate, relevant, and timely information about the CPS.

He noted that the sensitisation initiative was not merely a routine event but a necessary engagement that could determine the ease or difficulty of transitioning into retirement.

“This periodic sensitisation programme is designed to provide important and timely updates as it affects the Contributory Pension Scheme for employees of the Lagos State Government,” Agoro said.

He emphasised that the exercise served a dual purpose-educating public servants and ensuring the protection of their rights through credible and approved sources of information.

“Importantly, the exercise plays a vital role in protecting the rights of public servants by obtaining useful information from reliable and approved sources, and disseminating such in order to guarantee seamless processing of retirement benefits after exit from the State Public Service,” he added.

Agoro urged civil servants to take advantage of the opportunity to engage fully with the Pension Fund Administrators (PFAs) present, encouraging them to read the provided materials carefully and update their records promptly.

“You are implored to take time to patiently read the materials provided and take full advantage of having the Pension Fund Administrators bring their services to your doorstep to update your data,” he said.

He also advised public servants to reach out to the Lagos State Pension Commission (LASPEC) whenever in doubt, noting that early action and proper documentation could prevent delays in retirement benefit processing.

“Let me once again emphasise the importance of this exercise and implore you all to be intentional about updating your data with your respective PFAs in order to ease processing of your pension benefits, going forward,” he stated.

Director-General of LASPEC, Mr. Babalola Obilana, in his remarks, reinforced the government’s commitment to a dependable and efficient pension system.

He described the CPS as a collaborative mechanism between employers and employees aimed at ensuring a dignified post-service life.

“The Contributory Pension Scheme (CPS) was introduced to provide a structured and dependable source of income in retirement. This collaborative effort ensures that our workforce can look forward to a dignified life after service,” Obilana explained.

He highlighted the Commission’s efforts to enhance the pension administration process, disclosing that LASPEC had intensified collaboration with PFAs and Annuity Service Providers (ASPs) to minimise delays, improve access, and strengthen fund management.

“We have strengthened our collaboration with PFAs and Annuity Service Providers to simplify access to benefits, minimise delays, and ensure proper management and growth of your retirement savings,” he noted.

Obilana, however, expressed concern that some public servants had yet to open their Retirement Savings Accounts (RSAs)—a prerequisite for proper investment and monitoring of contributions. He warned that unregistered contributions sit idle in escrow accounts, rendering them unproductive.

“Some public servants are yet to open their Retirement Savings Accounts (RSAs), which prevents proper investment and tracking of their contributions. Consequently, funds meant for such individuals remain idle and unproductive in an escrow account. I urge all those who have not yet registered to do so without delay,” he warned.

He further stressed the need for regular updates of personal information, early submission of documents, at least six months before retirement and the active involvement of pension desk officers and HR directors across MDAs.

Obilana also encouraged public servants to participate in the ongoing Data Recapture Exercise, describing it as vital for accurate contribution tracking and timely benefit disbursement.

“Pension-related procedures can be complex, so today’s sessions will break down the CPS process, address concerns, and empower you with the knowledge required to make informed retirement decisions. Please cascade today’s knowledge to your colleagues, so no one is left behind,” he said.