Lagos State Governor, Mr. Babajide Samwo-Olu, has said that his administration since 2019 has paid N56.55b as pension to 16,026 retirees under Contributory Pension Scheme (CPS), maintaining that the state government is committed to the welfare of its workforce, both active and post-service.
Sanwo-Olu stated this at the 103 batch retirement bond certificate presentation ceremony to 1,013 retirees by the Lagos State Pension Commission (LASPEC).
The governor said administration is committed to ensuring prompt payment of retirement benefits of retirees as well as addressing pension’s issues.
“Today’s event is a continued affirmation of the commitment of the state government to the welfare of its workforce, both active and post-service. The Lagos State government since the inception of the Contributory Pension Scheme has paid N138b to 34,178 retirees.
“Since the inception of my administration, we have paid a sum of N56.5b into the Retirement Savings Accounts (RSAs) of 16,026 retirees in the mainstream, local council, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals of the state government.
“I am delighted to inform you that today, another set of 1,013 retirees will smile home with a total sum of N3.1b only.
This is alongside their monthly contributions which have already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators (PFAs),” Sanwo-Olu stated.
The Director General, LASPEC, Babalola Obilana, said over one thousand retirees were issued over N3b as 2021-2022 retirement bonds restating the commitment to reviewing and providing first class service to workers in the state.
“I must say that, the administration of Mr. Babajide Sanwo-Olu is truly grateful for your hard work and recognises the need to protect your retirement benefits. As such, its commitment to ensuring regular remittance of your retirement benefit, as and when due, remains resolute.
“Let me also state that, the retirement bonds that will be presented to you today are not merely tokens of appreciation, indeed, they are symbols of our enduring gratitude and respect for the years of hard work and dedication you have all invested in our public service and dear state, in general. The legacy you have all built will continue to inspire us. On this note, I wish to express my sincere appreciation to Mr. Babajide Sanwo-Olu, the Governor of Lagos State for placing huge premium on the welfare of staff of the state public service, both active and retired.”
Responding on behalf of the beneficiaries, Mariam Adetokunbo-Eko commended Sanwo-Olu for his administration’s kind gesture to retirees in the state.
