The Lagos State Government has confirmed the release of N723 million to pay its 149 retirees for January.
The Director-General of the Lagos Pension Commission Folashade Onanuga, in a statement said that N723 million was paid into the Retirement Savings Accounts of 149 retirees from the state’s Public Service.
Onanuga said this had also been announced at the 47th Retirement Benefit Bond Certificates’ Presentation to the retirees.
Onanuga in the statement quoted Governor Akinwumi Ambode of Lagos State to have said the state government would ensure regular funding of pensioners’ retirement benefits at the event,
Ambode, represented by the Commissioner for Establishments, Training and Pensions, Dr. Benson Oke, said the state had expended N33.943 billion to pay accrued pension rights of 8,409 retirees in the last 30 months.
Onanuga said: “This is aside the regular monthly contributions into the RSA of its active workers.
“The state has also cleared the backlog of outstanding pension obligations met at the inception of this administration.
“The state is also determined to settle fresh liabilities from retirement.”
Onanuga said that the Lagos State Government would ensure that all retirees that had served the state would not go unrewarded or ran into penury.
Onanuga then appealed to the retirees not to succumb to pressure in terms on annuity or programme withdrawal benefit options for the payment of monthly pensions.
She said the state government had started searching for welfare programmes that would give retirees more comfort after retirement.