The Guardian (Nigeria)

LASG remit N1 billion pension funds to 287 retirees

- By Bankole Orimisan

THE Lagos State Government has said that 287 of its retirees has received the sum of N1 billion in their retirement savings accounts ( RSA).

This was disclosed at the 86th bond presentati­on ceremony in Lagos by the Director- General, Lagos State Pension Commission, Babalola Obilana. He said the gesture was in fulfillmen­t of the government’s agenda to provide succor to pensioners.

While reiteratin­g the commitment of the state government to the welfare of its retirees, he said it would remain consistent in the implementa­tion of the contributo­ry pension scheme in line with the provisions of the state’s amended pension law.

Obilana explained that the bond certificat­es’ payments were based on their past service benefits before the commenceme­nt of the Contributo­ry Pension Scheme in 2007.

He lauded the efforts of the state government in the payment of the contributo­ry pension.

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