Home Business Insurance & Pension Lagos govt remits N1.51bn pension of 426 retirees

Lagos govt remits N1.51bn pension of 426 retirees

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The accrued pension rights of N1.51 billion has been paid into the Retirement Savings Accounts (RSAs) of 426 retirees by the Lagos State government.

This was disclosed by the Director-General, Lagos  State Pension Commission, Mrs Folashade Onanuga, in a statement.

According to her, the payments were made to the retirees at the 69th Retirement Benefit Bond Certificate Presentation ceremony in the state.

She stated that the state governor, Babajide Sanwo-Olu, had the interest of retirees at heart hence, he has been very consistent in granting approvals to clear off outstanding accrued pension rights.

She thanked the retirees for contributing their quota and making a meaningful impact during their service years to the state.

The DG said the state government and the commission remained committed to ensuring that as people retire, they will transit to paid pensioners not later than two months after retirement.

“The government is committed to clearing the backlog and hence the payment of a huge amount of N1.514 billion for the month of November.  In October, an amount of N1.15 billion was paid and in December, a projected amount of N1.5billion will also be paid.”

She advised retirees that health is wealth in retirement and they should be moderate in everything, to enable them to live a longer and healthier life.

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