By Blessing Teniola
The Lagos State Government on Wednesday, paid N2.017billion as retirement benefits to 644 retirees from the state’s public service.
Mr Babalola Obilana, Director-General, Lagos State Pension Commission, (LASPEC) disclosed this at the 101st Batch Retirement Bond Certificate Presentation for the retirees in Lagos.
Obilana stated that the payment is for their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.
He thanked Gov. Babajide Sanwo-Olu for working assiduously to ensure the consistent payment of pension liabilities and first class services to the retirees.
The director general noted that the event was organised to celebrate a significant milestone and exceptional retirees, who had dedicated their time, energy and talents to the state.
“It is indeed an honour to stand before you to recognise and commend your hardwork and commitment that you have demonstrated throughout your years of service to the Lagos State Government.
“This retirement bond certificate presentation is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made.
“Your unwavering dedication has helped shape Lagos state into the Centre of Excellence it is today.
“These retirement bond certificates symbolise more than just financial rewards; they represent the trust and confidence we have in our retirees.
“They are a testament to the lasting impact you have made.
” Your dedication has been the bedrock of the goal of a greater Lagos, and your hard work has set a high standard for those who will carry the state forward,” he said.
Obilana appreciated the commission’s stakeholders, the Pension Fund Administrators (PFAs) and insurance companies for their relentless efforts toward the success of the CPS.
Similarly, Mr Olawale Musa, Permanent Secretary, Lagos State Ministry of Establishments,Training and Pensions, lauded Gov. Sanwo-Olu for prioritising the welfare of the public service workforce even in retirement.
Musa said the governor has shown great commitment to the ideals of the CPS and mandate to clear all outstanding retirement benefits by 2024.
He advised the retirees to be prudent with their money, be careful of settling for investment option and feel free to reach out to LASPEC or the Ministry, for any pension-related information or further clarifications.
“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of the state and pray that their retirement be filled with joy, fulfillment and new experiences,”he said.