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Lagos pays 185 retirees N943.14m

By on September 10, 2013

Lagos State government has paid 185 of its retirees the sum of N943.1m. The payment was made recently during a retirement bond certificates presentation ceremony a statement said on Sunday.

During the presentation, the Director-General, Lagos State Pension Commission, Mr. Adekunle Hussain, said the ceremony was organised for local government service employees, who recently retired from the state public service under the Contributory Pension Scheme.

Hussain was quoted as saying, “About 185 retirees will be receiving their retirement bonds, which amount to N943.14m. This amount of money had already been remitted into the Retirement Savings Account of every beneficiary of this mini-ceremony.”

He noted that since the inception of LASPEC, its watchword had been a total commitment to ensuring a better and fulfilling retirement life for the employees of the state.

“We have seriously worked towards the fulfilment of our mission statement, which is to provide exceptional services on pension matters to employees in the Lagos State public service, deploying world class technology and utilising well-motivated workers to ensure financial freedom for Lagos State retirees,” he said.

According to him, the Babatunde Fashola administration in Lagos State has continued to show a great commitment to the welfare of workers and retirees.

Under this CPS, he added that the Lagos State government had ensured the payment of a total sum of N18bn.

He said the commission was preparing for the ninth batch of the presentation, which was usually organised to celebrate its retirees.

By this, he added that they would be joining the existing 3,304 retirees to enjoy retirement benefits in the state under the CPS.

A retiree, Mrs. Ogundijo Oluwaranti, expressed appreciation to the state for making their benefits available to them at retirement.

Another beneficiary, Mr. Olagoke Joseph, who was excited to have collected his benefit, said he was interested in using his benefit to take the life annuity product.