May 21, 2024
Lagos Govt. Pays N50.7bn To Retirees In 4 Years
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Lagos Govt. Pays N50.7bn To Retirees In 4 Years

The Lagos State Government says it has paid over N50.7 billion to 13,928 retirees, from 2019 till date.

The Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, who was represented by the Permanent Secretary, Office of Establishments and Training, Mr Olawale Musa, says the payments were made to retirees in the mainstream, local government, State Universal Board, Teaching Service Commission and other state parastatals.

Speaking at the 100th Retirement Bond Certificate Presentation Ceremony, organised by the Lagos State Pensions Commission at Ikeja, she added that the state government had paid accrued pension rights of N5 billion into the Retirement Savings Accounts of 1,768 retirees, alongside their monthly contributions.

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According to her, the present administration has been consistent in the payment of pension obligations to its retirees, thereby, maintaining a leading role in the administration of the Contributory Pension Scheme.

Mrs. Ponnle says the present administration is currently working on some reforms, based on global best practices, to reduce post-retirement financial difficulties, with a committment to building an environment that remains safe and secure for all residents.

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