Connect with us

Business

LASG pays N4.48 billion pension benefits to 1,455 retirees

Published

on

Babajide Sanwo olu e1706337404108

The Lagos State Government said it has disbursed a total of N4.48 billion to another set of 1,455 retirees on Thursday as accrued pensions for the month of March.

This payment occurred at the event of the 104th retirement bonds certificate presentation, arranged by the Lagos State Pension Commission (LASPEC).

During the 103rd retirement bonds certificate presentation in February, where LASPEC disbursed N3.2 billion in accrued pensions to 1,013 retirees, Governor Babajide Sanwo-Olu committed to disbursing at least N4 billion in the following month.

The governor guaranteed that to settle all outstanding accrued pensions before mid-year, the state government would disburse an additional N3 billion in April.

Subsequently, Mr. Babalola Obilana, LASPEC’s Director-General, announced during Thursday’s event that the released funds were allocated to civil servants retiring before the 2007 start of the Contributory Pension Scheme.

Obilana lauded Sanwo-Olu for his unwavering commitment to the welfare of the people of Lagos State.

He mentioned that the governor had kept his word by settling all pension arrears and guaranteed that by mid-2024, retirees in Lagos State would receive their entitlements immediately upon leaving service.

For his part, Speaker, Lagos State House of Assembly, Hon. Mudashiru Obasa, promised that lawmakers would continue to support legislations to further improve the lives of pensioners.

Obasa, represented by the Chairman, House Committee on Establishments, Training, Pensions and Public Service, Hon. Oladele Ajayi stated that Lagos State is the only state in Nigeria that is committed to monthly payment of pension benefits.

He assured that by the month of May, outstanding accrued pensions owed by the state would be cleared.

Trending