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Over N32bn has been paid to 8,170 retirees between May 2019 and July 2021- LASPEC

The Lagos State Government claims to have paid more than N32 billion in pensions to 8,170 retirees between May 2019 and July 2021.

In a statement issued, the Lagos State Pension Commission (LASPEC) stated that the declaration was made on Friday by the Commissioner for Establishment, Training, and Pensions, Ajibola Ponnle.

The declaration was made by the commissioner at the 87th presentation of retirement benefit bond certificates to retirees, according to the statement.

Mrs. Ponnle also stated that the state government contributed more than N1 billion to the Retirement Savings Accounts (RSAs) of 247 retirees in July.

She stated that N1.1 billion was credited into the RSAs of 247 retirees this month, in addition to their monthly contributions.

“The Lagos State government has paid N32.8 billion to 8,170 mainstream retirees, local governments, the State Universal Basic Education Board, the Teaching Service Commission, and other parastatal organizations,” she stated.
The commissioner assured pensioners that the state government was committed to their well-being and interests.

She explained that the government has always prioritized timely payment of pension obligations within available resources.

“Despite the enormous liabilities, the current administration has ensured that pension entitlements to retirees under the Pay As You Go Pension Scheme are paid on a monthly basis.

“LASPEC ensures the payment of accrued pension rights to retirees under the Contributory Pension Scheme (CPS) in order for them to access their RSAs as soon as possible,” she explained.

Mrs. Ponnle encouraged retirees to embrace the joys and challenges of their new stage of life.

Source: PremiumTimes

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