The Ogun State and Lagos State governments have both revealed that they had paid a combined sum of N114.5bn in past three and half years.
The Lagos State Government said on Saturday that it had paid 11,854 pensioners’ retirement savings accounts since May 2019 and also declared that between January and July 2023, at least 1,200 employees would retire from its public service.
The 23rd retirement benefit documentation seminar for intending retirees was held in collaboration with the state’s approved pension fund administrators and annuity service providers in Lagos.
Babalola Obilana, the Director General of the Lagos State Pension Commission, announced that the Lagos State Government was committed to the swift resolution of pension issues and that it was always coming up with new ways to provide first-rate service to its retirees and intending retirees.
Obilana emphasized that LASPEC had implemented and supported a number of pension reforms and business processes, including the RSA transfer window, automation of business processes, inspection of pension fund administrations, and the new LAG-ID card to lessen the burden on the elderly. She also stressed that the state government would not give up on efforts to ensure financial freedom for its pensioners.
In the same vein, prince Dapo Abiodun, the governor of Ogun State, also revealed that in the past three and a half years, his administration has paid pensioners over N70 billion in gratuities and pensions. The governor who made this statement in Ijebu-Ode also mentioned that the quarterly payment for pensioners had been enhanced from N500 million to N600 million.
The governor said the amount was significant, but his administration was taking the necessary steps to guarantee that our pensioners enjoyed the benefits of their labour. He took a swipe at the previous administration for neglecting to pay the retirees their entitlements.
He told the workforce that when the state’s finances improved, they would receive their entitlements, including global deductions, leave incentives, and other benefits.