More Lagos retirees to get pensions

By Nike Popoola


The Lagos State Government says it is set to pay the accrued retirement benefits of another batch of employees, who retired from the state public service, under the Contributory Pension Scheme.

According to a statement from the Press and Public Relations Officer, Lagos State Pension Commission, Mr. Taofeek Lawal on Sunday, the retirees would be receiving their entitlements during the tenth retirement bond certificates’ presentation ceremony.

Director-General, Lagos State Pension Commission, Mr. Rotimi Hussain, described the tenth bond presentation as another turning-point in the history and administration of the CPS in the state and Nigeria.

"What began like a dream with the historic event of the first presentation in October 2010, when just 102 retirees were paid N412.8m. That has gloriously risen to a point where, as at the end of last year, a total of 3,900 retirees have so far received a sum of N21.49bn, being their accrued rights of past services rendered for the state," he said.

He noted that the passion and commitment that the state placed on the CPS, which had culminated in the success so far, had proven the administration beyond every reasonable doubt that the interest and well-being of its employees during and after leaving service was uppermost.

Hussain urged the retirees to make up their minds on which of the exit options they want, adding that the commission had, during the pre-retirement seminars, expatiated on the differences between the two exit options of the programmed withdrawals and the annuity for life.

The LASPEC gave an assurance that there was a guaranteed maximum protection on whichever retirement option the retirees took, adding that the commission had confidence in the ability and capability of the six Pension Fund Administrators and the five insurance companies to serve the retirees adequately and satisfactorily.

According to the statement, the Commissioner for Establishments, Training & Pension, Mrs. Florence Oguntuase; Head of Service, Mrs. Josephine Williams and the Chairman, House of Assembly Committee on Establishments, Training & Pension, Omowunmi Olatunji-Edet, are expected to attend the occasion, among other dignitaries.




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