
The Lagos State Government has again paid the sum of N891 million to 324 retirees from the mainstream civil service,local governments,state universal basic education and other parastals for the month of July,2016.Speaking at the 29th Retirement Benefit Bond presentation ceremony recently,the Director-General ,State Pension Commission {LASPEC},Mrs Folashade Onanuga advised the beneficiaries to use the lump sum payment by their respective Pension Fund Administrator judiciously.She emphasized that the State government has fulfilled her own part of paying the retirees entitlements and that it is now left for the Pension Fund Administrators /Annuity Service Providers to fulfil their part of the arrangement by ensuring that monthly payment to retirees are made.While reiterating that the commission will continue to monitor the activities of pension operators to guarantee that they continue to fulfil their obligations to the State retirees,Onanuga implored beneficiaries to seek professional advice when making an investment decision with their payment.
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