By Bimbola Oyesola
Over N50.7 billion has been disbursed to 13,928 retirees in Lagos State in the past five years.
Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, speaking during the presentation of the 100th Retirement Bond Certificate, organised by the Lagos State Pensions Commission in Ikeja last week, she noted that the payments were made to retirees in the mainstream, local government, State Universal Board, Teaching Service Commission and other state agencies.
Ponnle, who was represented by the permanent secretary, Office of Establishments and Training, Mr. Olawale Musa, said the state government had paid accrued pension rights of N5 billion into the retirement savings accounts of 1,768 retirees, alongside their monthly contributions.
“The present administration has been consistent in the payment of pension obligations to its retirees, thereby, maintaining leading role in the administration of the Contributory Pension Scheme,” she said.
Ponnle said the Bond Certificates presentation ceremony was a testament to the state government’s faithfulness in the performance of its obligations to retirees.
The permanent Secretary said that the government appreciate the diligence and commitment of the retirees while in active service.
She stated that it was the recognition of the need to protect their retirement benefits that informed the implementation of the Contributory Pension Scheme.
According to her, the present administration was currently working on some reforms, based on global best practices, to reduce post-retirement financial difficulties.
“The state government is committed to building an environment that remained safe and secure for all residents and will continue to raise the bar of governance to improve the livelihood of all,” she said.