138 LAGOS RETIREES RECEIVED N817M.#PRESS RELEASE.

     The Lagos State Government has paid accrued pension rights of N817,739 million into the Retirement Savings Accounts of 138 retirees of the Public Service with 95% of the beneficiaries being former staffers of the State Universal Basic Education (SUBEB).

Speaking at the 59th Retirement Benefit Bond Certificate Presentation on Thursday at the LASPEC Office Complex, NECA House, Ikeja, the State Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson-Oke congratulated all retirees for the privilege of being alive to receive their entitlements.

He affirmed that the State Government has consistently distinguished itself as a leading State in Pension Management and Administration and will continue to do so, as regular payment of salaries and pensions are sacrosanct and of utmost importance to the present administration in Lagos State.

The Director-General (LASPEC), Mrs. Folasade Onanuga in her welcome address, reiterated that the State Government is very committed to Pensioners’ welfare, saying, “The funding requirements are enormous but we will continue to pay monthly and hopefully in the not too distant future clear all backlog”.

She, however, adviced that the retirement money is meant for the well-being of retirees and not for frivolities, stressing that such money should be invested wisely in businesses and must be monitored effectively.Onanuga also implored the retirees to be active in retirement as much as their health could allow them.The retirees expressed appreciation to the government for regular payment of their pensions.