The Lagos State government said on Friday that it has deposited N1.62 billion into the RSAs of 288 retirees for the month of October.
This was said by Mr Babalola Obilana, Director-General of the Lagos State Pension Commission (LASPEC), at the 97th Batch Retirement Bond Certificate Presentation for retirees from the Lagos State public service.
Obilana stated that the state has consistently executed the Contributory Pension Scheme (CPS) since its commencement in accordance with the requirements of the Lagos State Pension Reform Law of March 19, 2007, which has since been revised.
He said that the state government had always put pension contributions first in line with the CPS’s legal requirements to protect the future of its most valuable asset, the public service.
According to him, after salaries are received, both employee and company contributions are quickly deposited into employees’ RSAs.
“Today, the present administration of Gov. Babajide Sanwo-Olu is presenting another set of 288 retirees with a sum of N1,062,650, 264.48 only, being their past service benefits prior to the commencement of CPS in 2007.
“We acknowledge and commemorate the labour and sacrifices of our retirees whilst in the public service, which has contributed immensely to the development of our dear state.
“The efforts of Gov. Sanwo-Olu and the present administration towards the success of the contributory pension cannot be overemphasised.
“Despite rising recurrent expenditure and the current economic climate, the state government has made continuous monthly payments a priority to ensure retirees access their retirement benefits as soon as possible,” he said.
In an effort to achieve the governor’s goal of the quick payment of pension entitlements upon retirement from public service, LASPEC, according to him, continually examines its business processes to guarantee first-class service delivery to retirees.
The director general remarked that the commission collaborated with its partners to guarantee that retired officers who had given their careers to serving the state received the highest quality of care.
Obilana warned the older statesmen to be aware of anyone claiming to be linked with the state administration and offering to process or expedite their pension benefits for a fee.
He stated, “Please send all inquiries to LASPEC via www.laspec.gov.ng or our official telephone lines.”
Mr. Sunday Sokefun, a retiree, spoke on behalf of the retirees and thanked the state government and the management of LASPEC for honouring the retirees and fulfilling their duties.
