Lagos Pay N8.7b To Retirees In Six Months

The Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, has said the government paid N8.77 billion to its retirees between January and June, this year.

Obilana, in a statement, said 2,309 retirees got their cash in their Retirement Savings Accounts (RSAs).
The DG affirmed that the government remains exceptional in the prompt payment of accrued pension rights to its retirees.


He reiterated the resolve of Governor Babajide Sanwo-Olu to the timely payment of  accrued pension rights.


He said: “A total of 405 retirees RSAs have been credited in  June, 2020 totaling N 978.5 million.


“However, in compliance with the Covid-19 protocols and to ensure safety of beneficiaries, the retirement Bond Certificates Presentation will not hold, but all Retirement Bond Certificates for June have been released to Pension Fund Administrators who will invite beneficiaries in their ten’s for the exit meeting and grant access to their RSA for the computation of their lump sum and monthly pension.


“We assure retirees of prompt payment of pensions and welfare. This remains the focus of LASPC and this government will continue to deliver tangible dividends of democracy in the state. “