Lagos State Govt. settles N1.2 billion pension obligation

Lagos Governor, Akinwunmi Ambode [Photo:]

The Lagos State Government (LASG) has disbursed about N1.2 billion as pension payments of 286 retirees for December.

Governor Akinwunmi Ambode, at the Retirement Bond Certificates Presentation on Wednesday, said his administration within the limited resources, innovated and ensured prompt payments of the pension obligations.

The governor was represented by the Commissioner for Establishments, Training and Pensions, Akintola Oke.

According to Mr. Ambode, prioritising pensioners’ welfare has moral, economic and social ramifications.

He emphasised that it was such holistic view on “Pension obligations’’ that could put efforts directed at its managements and promotion achievable.

“All governments and persons of goodwill ought to know that it is morally reprehensible for an employer to neglect benefits of its employees who gave the prime of their active years serving.

“Thankfully, this is an area where the LASG, through the instrumentality of Lagos State Pension Commission (LASPEC), has demonstrated its moral compass.’’ he said.

Giving the state’s figure on pension performance, he said from August 2015 to December 2017, over N33 billion accrued pension rights had been paid to 8,262 retirees.

“Accrued Pension Rights previously paid before the current administration from 2010-2015 amounted to N33,645 billion to 7,409 employees.

“Therefore, since the commencement of the Retirement Benefit Bond Certification Presentation (RBBCP) in 2010, the state has paid accrued Pension Rights of over N66.6 billion to 15,671 retirees.’’

Mr. Oke said that the government was also much committed to the regular contribution of the monthly deduction of 7.5 per cent from the salary of every employee.

The Director-General of LASPEC, Folashade Onanuga, said that Ambode’s administration would continuously bolster the socio-economic well-being of citizens in spite of the pension liabilities on the state.

According to the LASPEC DG, government, through the commission, had paid 104 named beneficiaries of deceased employees in the Mainstream Civil Service.

“Insurance benefits of N325 million from August 2015 till date has been paid.

“This insured benefit is by law to be paid to the named beneficiaries to alleviate the immediate needs of the family,’’ she said.

She explained that within two years and six months, 28 RBBCPs had been held.

“The total number of beneficiaries within the 30 months is 8,262.’’

She advised pensioners to be wary of pension fraudsters, take very good care of their health and desist from spending on frivolities, among others.

She said more innovations were introduced into the state’s pension Information Communication Technology (ICT) infrastructure, to ensure pension operations were seamless and less cumbersome.

The News Agency of Nigeria (NAN) reports that the wife of the Lagos State Governor, Bolanle Ambode, attended the events.


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