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Lagos State Assembly is set to amend the State’s Pension Reform Law of 2018

Lagos Retirees to get Letter of Confirmation of Exit 21 days before retirement from service

The Lagos State House of Assembly proposed amending the Lagos State Pension Reform Law, CAP L52, Laws of Lagos State, 2015, and Cap C136, Amendment of 2018.

The Speaker, Mudashiru Obasa, who presided over the plenary, stated, “The issue of pension has become a very disturbing one in the state, as each of us has a retiree who has been complaining about their inability to access their retirement benefits.”

“This bill goes beyond the 21 days’ notice and there is a need for us to address the Bill. It should be thrown open and given total overhauling.”

He also stated that “The Bill is complicated as this is the third time that we will be addressing the issue of pension. So we will take this opportunity to give it a global look and allow those retirees that have been denied the opportunity of accessing their benefits to come and be part of it.

“Also the professionals along this line to come on board and tell us what should be done so that we can have a perfect work on the matter and have a lasting solution “

While highlighting the proposed amendment, Oluyinka Ogundimu, Chairman of the Establishments, Training, Pensions, and Public Service Committee, stated that it is recommended that the provisions of Section 89 (2) of the Pension Commission Act and Guidelines issued by it apply instead of the State having its own provision.
It also stated that the Certificate of Clearance should be issued within 21 days of the employee’s retirement or termination from service.

The letter provides retirees with easy access to their pension account; however, it has been amended to read “Letter of Confirmation of Exit” to be issued within twenty-one (21) days prior to the employee’s retirement or exit from the Lagos State Public Service for easy access to their retirement benefits.”

While emphasizing the significance of the Bill, Sanai Agunbiade stated that it will respond to the welfare of the citizens of Lagos State who have worked tirelessly and will enable them to receive what is due to them.

While endorsing the Bill, Abiodun Tobun stated that if passed into law, the Bill will make life easier for service retirees.

In his contribution, Femi Saheed stated that the Bill has enormous benefits, such as lowering the cost of governance and having enough money in the economy through the pull of funds.

“The Bill seeks to bring to conformity functions of the Lagos State Civil Service and Pensions Commission, to protect pensioners from managers, and to ensure that pensioners receive their money on time,” said Rotimi Abiru.

The Speaker then referred the Bill to the Establishments, Training, Pensions, and Public Service Committee, which was given two weeks to report back.

Source: Vanguard

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