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By Henry Uche
The Lagos State government, through the Lagos State Pension Commission (LASPEC), has presented a set of 222 retirees with over N1.04billion being their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.
At the 91st batch retirement bond certificate presentation ceremony in Lagos, the Director General of LASPEC, Babalola Obilana, said the entitlement was due for retirees of the Lagos State Public Service officers, who have served the state meritoriously, hence the need to acknowledge their labour and sacrifice while in service which had contributed immensely to the development of the state.
According to him, Lagos had consistently implemented the Contributory Pension Scheme since its inception in line with the provisions of the Lagos State Pension Reform Law of 19th March, 2007 now amended.
“The State Government in recognition of its dedicated workforce has consistently prioritized pension contributions in the Annual State Budget and we are happy to note that Lagos State is one of the few States in the federation that does not owe monthly pension contributions.
“Both employee and employer’s contributions are remitted promptly into individual employees’ Retirement Savings Accounts (RSAs) after salaries are received,”
Obilana stressed that despite the numerous local and global challenges, the state government had made continuous monthly payments a priority to ensure retirees access their retirement benefits as soon as possible, noting that LASPEC also constantly reviews its business processes to ensure first class service delivery to retirees to accomplish the governor’s goal of the immediate payment of pension entitlements upon retirement from the public service.
“I want to enjoin you all to go to your PFAs or ASPs at least a week from today to ensure prompt access to the funds in your RSAs. Please beware of any individual/association who claim to be affiliated to the state government and can process or fast track your pension entitlements for a fee,” he added.
