LAGOS PAYS N41 BILLION TO PENSIONERS

The Lagos State Government has paid more than N41 billion accrued pension to over 9,000 retirees in line with her commitment to pay all pension arrears to pensioners in the State.

The Commissioner for Establishments, Training and Pensions, Dr. Benson Oke Akintola, who stated this while speaking at the 9th Pre-Retirement Seminar for employees who are due to retire from the Lagos State Public Service between January and June, 2016, said that the Government will continue to cater for the wellbeing and welfare of all staff in spite of limited available resources.

According to him, “Prompt payment of monthly salaries and allowances of all active workers by the Lagos State Government will continue to be our focus”.

Earlier, in her welcome Address, the Director General, Lagos State Pension Board, Mrs. Folashade Onanuga disclosed that the total contributions credited into active employees Retirement Savings Accounts managed by the Pension Fund Administrators approved by the State Government, from April 2007 to date is about N59 billion excluding the accrued Pension rights of N41 billion paid recently to over 9,000 retirees. She added that the State Government has paid over N100 billion into her employees Pension fund, an act she described as a landmark achievement which also speaks volume of the premium the state places on the welfare of her staff. “Despite the fact that the State Government’s accrued pension rights obligation is huge, it is determined to give retirees comfort and ensure they are well taken care of,” she said.

While noting that the State Government is set to pay N1.6 billion to another set of retirees this month, Onanuga maintained that the State Pension Board will not rest on its oars but works towards the payment of pension into staff Retirement Savings Account before retirement. The DG also used the occasion to brief the prospective retirees of the State Government’s plan to continue to provide free health care service for them in retirement in recognition of their contributions to the State. The Pre-Retirement Seminar is a bi-annual event which is intended to prepare employees who would be retiring for a life of financial independence. It is also aimed at educating them on early documentation requirement, amongst others.