The Lagos State Government has disclosed that that it has paid over N8.7 billion Naira Accrued Pension Rights to retirees from its public service between January and June.
In a statement issued Tuesday, the Director-General, Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, disclosed that over 2,309 retirees were paid.
He said that the accrued pension rights had been credited into their retirees’ Retirement Savings Accounts (RSA).
Obilana said that Lagos state remained exceptional in prompt payment of accrued pension rights to its retirees.
“The decision of Gov. Babajide Sanwo-Olu is that accrued pension right should be paid timely,” he said.
He also said that over N978 million was credited into the Redemption Savings Account (RSA) of 405 retirees in June.
“In compliance with the COVID-19 protocols and in order to ensure safety of all beneficiaries, Retirement Bond Certificates presentation will not hold.
“All Retirement Bond Certificates for June have been released to Pension Fund Administrators (PFA’s) who will invite beneficiaries in their tens for the exit meeting.
“The PFAs will also grant access to their RSA for the computation of their lump sum and monthly pension, ” he said.
He assured that the government would continue to deliver tangible dividends of democracy to all and sundry in the state.