Lagos State Government has released over N1.24 billion for paying pension entitlements of 183 public service retirees under the Contributory Pension Scheme (CPS) for last March.
Lagos State Governor, Mr. Akinwunmi Ambode, stated this during the 49th Retirement Benefit Bond Certificate presentation.
He reiterated his commitment to ensuring the payment of terminal benefits of retired civil servants.
The governor, represented by the Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson, said since the inception of this administration no fewer than 8,731 retirees were paid over N35bn.
He said though funding had been huge, the administration had been consistent in the payment of pension entitlements, adding that this was so because of the Ambode’s commitment and diligence.
Lagos State Pension Commission (LASPEC) Director-General, Mrs. Folashade Onanuga, said the governor had been committed to retirees’ welfare and that this was so because of the understanding that the state government’s greatest assets are the employees.
She stressed that their well-being is a priority.
She assured the retirees that the government would keep in touch with them after they had collected their bond certificates to know how they were faring.
“Governor Ambode wants to make sure that your labour in service is not in vain and that is why he has promised to continue to reach out to you.On your birthdays, you will get gifts from the state through the Post Service Department in the Office of the Head of Service.”
Onanuga advised the retirees to decide on which to opt for – programmed withdrawal or life annuity – to receive their terminal entitlements.
Mrs. Ego Onwuzubike appealed to her colleagues to understand the conditions when filling forms with their Pension Fund Administrators (PFAs) and ask questions when they don’t understand some things.
“The two exit options are good, depending on what you want, and no particular one should be forced on any retiree. Read the instruction very well before you fill your forms,” she said.
