Lagos retirees get N801m as accrued pension

The Lagos State Governor, Mr. Akinwunmi Ambode has continued to fulfil his promise to give priority to the issue of payment of retirees’ entitlements with the payment of N801 million to another set of 179 retirees as accrued Pension rights for the month of February, 2017.

The beneficiaries of this payment, who are from the Mainstream Civil Service, Local Government and State Universal Basic Education Board, Teachers Establishment Pensions Office and other Parastatals of Government, expressed gratitude to the State Government for its consistency in the payment of terminal benefits.

Speaking at the 36^th Retirement Benefit Bond Certificate Presentation Ceremony held today at NECA House, CBD, Ikeja, the Director-General, Lagos State Pension Commission (LASPEC), Mrs. Folashade Onanuga congratulated the beneficiaries and implored them to use it judiciously.

According to her, the current recession makes it mandatory for individuals to be prudent and enjoined them to adjust their lifestyle to the economic realities, saying:  “This is the evening season of your life and it is expedient to manage your level of expenditure so as to reduce the stress that can hamper your health. Most importantly, be contented and avoid quick gains as many schemes designed to empower you are actually traps to deprive you of what you laboured for.

“This Administration is very much interested in your wellbeing and as such, the Commission intends to keep in touch with you often in order to get feedback on your lives out of office and how the State could be of help”, she added.

The Head of the Technical Department, LASPEC, Mr. Olawale Otun also educated the retirees on the importance of writing will and on how to process their Retirement Benefit Bond Certificates and the two exit options available to them.