Lagos State Pays 311 Retirees N1.13bn Accrued Pensions

Lagos State Government has presented retirement benefit bond certificates worth N1.13bn to 311 public service retirees.

While welcoming the retirees to the 65th retirement benefit bond presentation, the Director- General, LASPEC, Mrs Folashade Onanuga, assured the retirees that the government’s interest in the well-being of the retirees was paramount.

According to her, Lagos State Governor, Babajide Sanwo-Olu runs a people- oriented government and also sensitive to the yearnings of the populace.

She stated that he was willing to pay the pension benefits of the retirees.

While imploring the retirees to be prudent with their pension and use it judiciously, she advised them to beware of fraudsters.

The statement said the retirees were given a lecture by the technical department of the agency on how to link up with their pension fund managers who would help to turn their bond into cash.

Onanuga stated the differences between annuity and withdrawal programme.

She expatiated on the two benefit options available under the contributory Pension Scheme.