Lagos Reassures Retirees Of Prompt Payment Of Accrued Pension Rights

Nigeria - The Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, has reassured retirees that the State Government is committed to the prompt payment of their accrued pension rights. Obilana, who gave the assurance at the 84th Bond Presentation Ceremony held recently at the NECA House Auditorium, Alausa, added that the pensioners will soon start to benefit from the Health Insurance Scheme of the State Government. According to him, the government has commenced work on the modalities to enable the retirees take advantage of the health scheme before the end of the current year. He disclosed that about 358 retirees’ Retirement Savings Accounts (RSA) have been credited with a total sum of N1,006,623,864.05 in fulfilment of the government’s promise to provide succour to the pensioners, stressing that welfare remains a top priority of Governor Babajide Sanwo-Olu-led administration.

While commending the retirees for adhering to the stipulated rules and regulations of the Commission, Obilana emphasised that adherence will enhance the work of officers while reducing delay in the preparation and payment of their entitlements.

The Director-General restated the commitment of the State Government to the pensioners' wellbeing, adding that LASPEC is leaving no stone unturned towards ensuring prompt payment.

He said, “Mr. Governor is aware of the fact that retirees had experienced a little delay in the payment of their entitlements. This is exactly why he has recently approved the release of adequate funds to address the situation”.

Obilana also appreciated the support of the Ministry of Establishments, Training and Pensions; Pension Fund Administrators and Insurance