The Lagos State government has paid N57.7bn to 16,340 pension benefits to retirees since May 2019 till date.
This was revealed by the Commissioner for Establishments and Training, Mr Afolabi Ayantayo, during the 102nd batch of the retirement bond certificate presentation ceremony to retirees of the Lagos State Public Service.
He said, “Let me use this occasion to thank Mr Governor, Babajide Sanwo-Olu, under his administration, the Lagos State Government has paid over N57.7bn to 16,340 retirees in the Mainstream, Local Government, State Universal Basic Board, Teaching Service Commission and other Parastatals of the State Government from May 2019 till date.
“Furthermore, Mr Governor has paid accrued pension rights of N1.26bn only into the Retirement Savings Accounts of 605 retirees this month, alongside their monthly contributions.”
The Director-General, Lagos State Pension Commission, Mr Babalola Obilana, thanked Sanwo-Olu for his commitment to the welfare of the people of Lagos State, saying, “He has continuously prioritised the needs of pensioners and approved policies to ease the financial burden on retirees.”
The director-general also thanked its stakeholders, the PFAs/insurance companies for their efforts towards the success of the Contributory Pension Scheme.
He said, “To our dear retirees, life after retirement is a transition from the hustle and bustle of a professional life to the serene embrace of well-earned leisure. Please remember that your contributions will always be cherished, and your impact will endure. May your days be filled with the joy of newfound freedom and the satisfaction of a well-lived professional journey.”
