The Lagos State government says it has put modalities in place for all retirees to be paid their retirement benefits immediately they retire from service.
Governor Babajide Sanwo-Olu said this as the special guest of honour at the 105th Retirement Benefit Bond Certificate Presentation Ceremony hosted by Lagos State Pension Commission (LASPEC) in Lagos on Thursday.
Governor Sanwo-Olu restated the unwavering commitment of his administration to the welfare of retirees, urging them not to misspend their retirement benefits but to collaborate with service providers on how to appropriately invest the fund.
Sanwo-Olu said that the government has paid the sum of N4.5 billion to 2,000 retirees in the state.
The governor noted that event was a testament to the unwavering commitment of the state government to its retirees, adding that it was also to celebrate the retirees’ commitment and dedication to the state civil service for many years.
He assured all retirees that they would be paid as soon as they bow out of office, as long as they have all the necessary documents available.
Governor Sanwo-Olu affirmed that Lagos is the only state that has paid the accrued benefits to it pensioners, adding: “Today, the state has cleared over N60 billion, making it the top performer in the pensions business.”
Sanwo-Olu said that the pensions benefits of the 2,000 retirees have been remitted the accounts of the pensioners in addition to their pension funds contributions.
The Commissioner For Establishment and Training, Afolabi Ayantayo, also commended Governor Sanwo-Olu for the prompt approval to clear backlog of pensions and release of funds for the payment of accrued benefits to retirees in commitment to their welfare.
Also at the event, Babalola Obilana, Director-General, LASPEC, commended the retirees for their accomplishments and the enduring sacrifices they have made throughout their distinguished careers, saying that they have exemplified the values of integrity, commitment, and excellence, which define the state.
Obilana said: “Your dedication and hard work have shaped the success of the Centre of Excellence and played a pivotal role in the development of Lagos State.
“Your tireless efforts, professionalism, and integrity have laid a strong foundation for the continued growths of our state. Today is a celebration of your career accomplishments and the lasting legacy you leave behind.”
He assured them that Lagos State Pension Commission has worked diligently to ensure the timely processing and disbursement of their pension benefits.
Obilana added: “Today, the administration of Governor Babajide Olusola Sanwo-Olu will present another set of 2,000 retirees with a total sum of N4,461,659,536.82, being their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.”
The Head of Service, Bode Agoro, who was represented by the Permanent Secretary, Public Service Office, Olasunkanmi Oyegbola, said that between May 2019 till date, the state government has paid over N59.7 billion (fifty nine point seven billion Naira) benefits to over 7,000 retirees in the state.
Responding on behalf of the retirees, Racheal Thomas, thanked the state government for its commitment to ensuring placing top priority on the welfare of retirees in the state.