The Lagos State Pension Commission (LASPEC) has paid over N43 billion as Accrued Pension Rights to 11,644 retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals of the government from May 2019 till date, the Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle has said.
She made this known at the 96th Retirement Bond Certificate Presentation to retirees of the Lagos State Public Service at Neca House Auditorium, Cbd, Alausa, Ikeja over the weekend.
She said the state had honoured its obligations as stated in the amended Lagos State Contributory Pension Scheme Law, by the presentation of Bond Certificates with a total amount of N1.113 billion to 295 retirees.
She assured the pensioners that the government had not forgotten them, noting that their welfare are top-priority and that the government was relentless in its pursuit to improve your retirement life.
She said the state government, through the Lagos State Residents Registration Agency (LASRRA) and in collaboration with sister agencies recently launched an upgraded Lagos State Resident Identity Card (LAG ID Card) with benefits such as subsidised health care and transport services for its retired public servants.
She urged pensioners to register with LASRRA to enjoy these benefits
The Director-General, LASPEC, Mr. Babalola Obilana, maintained that the contributions of the state has contributed significantly to the success of the Contributory Pension Scheme (CPS).
“Lagos is a trail blazer in the industry with 10 per cent employer and eight per cent employee contributions remitted monthly into individual employees’ Retirement Savings Accounts (RSAs) after salaries are received,” he said.
He stressed that the governor had approved the automation of business processes in LASPEC to ensure first- class service delivery to retirees to ensure the government’s goal of quick payment of pension entitlements upon retirement.