Retirees paid N1.3 billion in Lagos

A total number of 246 retirees have been paid the sum of N1.3 billion by the Lagos State government for the month of October, 2020.

In a statement by the Director General of Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, said: “A total of one billion, three million, three hundred and seventy-four thousand, three hundred and seventy-two Naira, sixty-eight kobo was paid.

The statement explained those benefiting to be employees from the mainstream service, Local Government Service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM), and other parastatals of the state government.

He said, arrears of unpaid pension inherited from previous administration was being paid by the Babajide Sanwo-Olu administration.

While he congratulated the retirees for their meritorious service to Lagos State government, the Pension DG revealed that the administration, despite the global COVID-19 pandemic was committed to payment of pension and gratutity of retirees.

“This shows the commitment of Gov. Sanwo-Olu to the welfare of the pensioners in the state,” he said.

The Director General enlightened the retirees on the two payment options available for accessing their monthly pension entitlements which is the Programme Withdrawal and Life Annuity.

He advised retirees to choose the best option of monthly payment based on their understandings.