Economy
THE Lagos State Government on Tuesday paid 532 retirees the sum of N1.2billion, being their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.
Mr Babalola Obilana, Director-General, Lagos State Pension Commission (LASPEC), said this at the 99th batch retirement bond certificate presentation in Lagos.
Obilana said the retirees had worked in the state’s public service.
He said: ”in line with the ideals of the CPS, the administration of Gov. Babajide Sanwo-Olu has worked assiduously to ensure the consistent payment of pension liabilities and first class service to our dear retirees.
”This administration is committed to improving the welfare of our senior citizens and has initiated various programmes to secure the financial freedom of our retirees.
”We are all here to celebrate your dedication and service to Lagos state, your labour whilst in the pblic service has not been forgotten. Thank you for your contribution to the dream of a greater Lagos.”
Obilana expressed appreciation to the commission’s stakeholders, Pension Fund Administrators (PFAs) and the insurance companies for their relentless efforts towards the success of the CPS.
He enjoined the retirees to take very good care of themselves, as health is wealth.
”Be prudent with your expenses and I pray God grants you long life and good health to enjoy your retirement life,” the director general said.
A retiree, Mr Abiodun Bamgboye, formerly Permanent Secretary, Lagos State Public Service, who congratulated his contemporaries, prayed that they enjoyed the fruit of their labour.
Bamgboye also lauded the state government for its consistency in the payment of the accrued pension right.
According to Bamgboye, the ceremony is a reflection of Lagos state’s commitment in ensuring that retirees get their right as and when due.
”Lagos state has come of age, strong and virile to this course and has not failed us,” he said.
-(NAN)
KN
Tags: Babalola Obilana Contributory Pension Scheme Gov. Babajide Sanwo-Olu Lagos State Government
