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Lagos Credits 287 Retirees’ Accounts With N1bn

By Adedapo Adesanya

The retirement savings accounts (RSA) of 287 retirees have been credited with N1 billion by the Lagos State Government.

This gesture was in fulfilment of the Mr Babajide Sanwo-Olu led government’s agenda to provide succour to pensioners through its corporate culture of excellence, service and technology-focused approach to delivering on its mandate of exceptional service to the public service employees, retirees and the citizens of Lagos State in general, according to the Director-General of the Lagos State Pension Commission (LASPEC), Mr Babalola Obilana.

Speaking at the 86th bond presentation ceremony in Lagos, the Lagos pension body chief, while reiterating the commitment of the state government to the welfare of its retirees, said the agency will remain consistent in the implementation of the contributory pension scheme in line with the provisions of the state’s amended pension law.

Mr Obilana explained that the bond certificates’ payments were based on their past service benefits before the commencement of the Contributory Pension Scheme (CBS) in 2007, lauding the efforts of the state government in the payment of the contributory pension.

“The efforts of the Babajide Sanwo-Olu administration towards the success of the contributory pension scheme cannot be overemphasised.

“The state government has made continuous monthly payments a priority to ensure retirees have access to their retirement bond benefits,” he said.

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