LAGOS PAYS N941M TO 228 RETIREES FOR NOVEMBER

The Lagos State Pension Commission has again paid another batch of 228 retirees from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other parastatals of Government the sum of N941m for the month of November, 2016.

Speaking at the 33rd Retirement Benefit Bond Presentation ceremony held recently at Ikeja, the Director-General, LASPEC, Mrs. Folashade Onanuga stated that the present administration has from August, 2015 to date paid the total sum of N21.929 billion as accrued pension rights to 5,027 retirees under the Contributory Pension Scheme.

She reiterated the commitment of Governor Akinwunmi Ambode in ensuring the welfare of the employees both in and out of office through prompt payment of their salaries and pension.

Mrs. Onanuga however noted that, only Programmed Withdrawal benefit option is presently available to the beneficiaries, pending when Life Insurance Companies open Operational Account jointly with a Pension Fund Custodian (PFC) to secure the funds for the provider of annuity services.

She advised the retirees to take good care of their health by going for comprehensive check-ups, desist from frivolous spending or invest in ventures that would not afford them peace of mind, stressing that they should be wary of fraudsters or any scheme that promises quick gains.

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