The Lagos State government has paid a sum of N784.6 million pension entitlement to 266 pensioners who retired from the state civil service.
Speaking at the 64th Retirement Benefit Bond Certificate Presentation ceremony in Ikeja, Lagos, the director-general, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga, said the welfare of Lagos State retirees is very dear to her heart and therefore, she is committed to making sure that the payment of Accrued Pension Rights continues monthly.
She advised the retirees not to succumb to any pressure in the choice of Annuity or Programmed Withdrawal benefit options. After patiently explaining the nitty-gritty of the two options for receipt of monthly Pension, she added that individual circumstance should be considered before making a choice.
She urged all beneficiaries to be extremely cautious and careful when deciding what to do after retirement. Do not go into business that you are not knowledgeable about, she warned.
In appreciation, the retirees, who were all enthusiastic about the presentation, thanked the state government for honouring its pension obligation, calling on the administration of Babajide Sanwo-Olu to do more in putting the interest of the retirees at heart.