Lagos State pays N14.48 bn to retirees

Chuks Udo Okonta

The Lagos State Government paid N14.486 billion to 2,604 retirees of the contributory pension scheme in two years, Director-General Lagos State Pension Commission (LASPEC) Rotimi Hussain, has said.

Hussain, who disclosed this at the 3rd Pre-Retirement Seminar for Workers retiring from the state's service from January and June, said the contributory pension scheme in the State, has continued to record huge success, adding that the amount was paid between October 2010 and December 2012.

He noted that the pre-retirement programme was designed to help the would-be retirees prepare for their physical, emotional and financial well-being in retirement.

He said with effective planning, retirees would be afforded the benefit of being in a better position and frame of mind to build a vibrant and rewarding life in retirement.

He said: "I am pleased to state that the contributory pension scheme in Lagos State has continue to record huge success. As we speak, 2,604 retirees who retired from the State public service under the scheme have been paid N14.486 billion between October 2010 and December 2012.

"This feat gives hope that with the contributory pension scheme, the future is absolutely bright for workers in the state."

Hussain said the state is poised to provide comfortable live for its workers during retirement.

Executive Director Technical LASPEC Mrs Folashade Onanuga, said the state is working hard to ensure that workers get their benefits a month after their retirement.

She urged workers to comply with the contributory pension scheme by observing all they are required to do, adding that the scheme has put the future of workers in their hands as the scheme is transparent and carries workers along in all the process involved.