Lagos govt clears N37.546bn pension arrears

0
342

The Lagos State Pension Commission (LASPEC) said Gov. Akinwunmi Ambode of Lagos State, has paid a total of N37, 546 billion to pensioners since 2015.

According to a statement signed by the Director-General of LASPEC, Mrs Folashade Onanuga, on Sunday in Lagos, the figure represented the total pension paid to 9,045 retirees of the state.

The LASPEC Director-General said the governor released N859, 059 million to offset the Accrued Pension Rights of 158 retirees under the Contributory Pension Scheme (CPS) in May.

She said earlier N859, 059 million was paid to 158 Public Service retirees, bringing the total pension paid by the governor since assumption of office to N37, 546 billion.

She explained the governor had been releasing funds every month to off-set the backlog of pension to Lagos retirees.

She said despite the high funding obligations of the current pension scheme, the government was committed to offsetting the backlog of pension, and would soon commence payment to 2016 retirees.

Onanuga said the government was fine-tuning the process of rolling out benefits that would make life easier for retirees.

“I, however, implore the retirees to study leaflets distributed by the state government on Annuity and Programmed Withdrawal for receipt of monthly pension entitlements, before picking their choice,” she said

SHARE
Previous articleAhmed, ex-ministers, others attend Akanbi’s burial in Ilorin
Next articleMikel Agu, Moses Simon and Ola Aina out as Rohr releases list for Russia 2018
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.