311 pensioners who retired from the Lagos State civil service were paid N1.13 billion pension entitlement by the Lagos State government so that they can cater for their financial needs from time to time.
A statement by the Public Affairs Officer, Lagos State Pension Commission (LASPEC), Mrs. Adetokunbo Eko, stated that the Director-General, LASPEC, Mrs Folashade Onanuga, whilst welcoming the retirees to the 65th Retirement Benefit Bond Presentation Ceremony, assured retirees that the government’s interest in the wellbeing of the retirees is paramount.
According to her, the government of Babajide Sanwo-Olu is a people-oriented government and its also sensitive to the yearnings of the populace, and as such, its willing to pay the pension benefits of its retirees.
She implored retirees to be prudent with their pension and use it judiciously, while advising them to beware of fraudsters.
Retirees were given a lecture by the technical department of the agency on how to link up with their pension fund managers who will help turn their bond into cash.
The DG also stated the differences between Annuity and Programmed Withdrawal exit options, while equally explained benefits of the two options available under the Contributory Pension Scheme(CPS).
One of the retirees, Benedict Oni, speaking at the event, appreciated the State Government on behalf of his fellow retirees for the continuity on payment of accrued Pension Rights.