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Lagos State Governor, Mr. Babajide Samwo-Olu, has announced that his administration has disbursed a total of N56.55 billion in pension payments to 16,026 retirees under the Contributory Pension Scheme (CPS) since assuming office in 2019. He reiterated the government’s unwavering commitment to the welfare of its workforce, both during their active service and post-retirement.

Governor Sanwo-Olu made this declaration during the 103rd batch retirement bond certificate presentation ceremony organized by the Lagos State Pension Commission (LASPEC), where 1,013 retirees were presented with their retirement benefits.

Highlighting the government’s dedication to addressing pension-related issues and ensuring timely payment of retirement benefits, Governor Sanwo-Olu stated, “Today’s event is a continued affirmation of the commitment of the state government to the welfare of its workforce, both active and post-service. The Lagos State government, since the inception of the Contributory Pension Scheme, has paid N138 billion to 34,178 retirees.”

He further added, “Since the inception of my administration, we have paid a sum of N56.5 billion into the Retirement Savings Accounts (RSAs) of 16,026 retirees in the mainstream, local council, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM), and other parastatals of the state government.”

Governor Sanwo-Olu expressed delight in announcing that 1,013 retirees would receive a total sum of N3.1 billion during the ceremony, in addition to their monthly contributions that had already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators (PFAs).

In his remarks, the Director-General of LASPEC, Babalola Obilana, reiterated the government’s commitment to providing excellent service to workers in the state, stating, “The administration of Mr. Babajide Sanwo-Olu is truly grateful for your hard work and recognises the need to protect your retirement benefits. As such, its commitment to ensuring regular remittance of your retirement benefit, as and when due, remains resolute.”

Speaking on behalf of the beneficiaries, Mariam Adetokunbo-Eko expressed appreciation to Governor Sanwo-Olu for his administration’s generous support to retirees in the state, acknowledging the significance of the retirement bonds as tokens of gratitude for their dedicated service.

Source: Guardian

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