Lagos pays retirees N22.7bn pension

By Nike Popoola

The Lagos State Government says it has paid N22.7bn to workers that retired in the state under the Contributory Pension Scheme.

The Director-General, Lagos State Pension Commission, Mr. Adekunle Hussain, stated this during the tenth bond presentation to another set of 299 retirees in Lagos.

"The Lagos State government has continued to set the pace for stakeholders in the pension industry. We can proudly say without mining words that Lagos has confirmed its leadership status as the only state in Nigeria to have paid up to this sum of N22.7bn to 4,199 retirees, who retired from the public service from inception of the CPS till date," he said.

According to him, the accounts of the 299 retirees under the tenth batch have been credited with a total of N1.2bn.

The Head of Service, Lagos, Mrs. Oluseyi Williams, said that given the responsibility of the office of the head of service through its major role of ensuring that the welfare of active and retired employees was given its pride of place, the office had continued to intensify efforts at ensuring that workers continued to live well in retirement.

She said the state had continued to wax stronger and consistently maintained its leadership position in the operation of the CPS, particularly in issuing bond certificates to retirees.

While congratulating the retirees, who were receiving their bonds, she urged them to live within their means and not get involved in any business that could negatively affect their money.

The Commissioner for Establishment, Training and Pensions, Mrs. Florence Oguntuase, said her ministry had made it a point of duty to ensure that the retirees’ entitlements were available promptly.

"Our resolve is to ensure that this money you have collected is not only invested wisely, but also enjoyed by you in old age," she said.

She said it was important for the retirees to pay adequate attention not only to their health, but endeavour to be actively involved in community development activities in their neighbourhood.

Source Punch