Gov. Sanwo-Olu’s administration pays N57.7bn pension benefit since 2019
Gov. Babajide Sanwo-Olu of Lagos State has paid N57.7 billion pension benefits to 16,340 retirees of the state since the commencement of his administration in May 2019 till date.
Mr Afolabi Ayantayo, the state Commissioner for Establishments, Training and Pension, said this at the 102nd Retirement Presentation, organised by the Lagos State Pension Commission (LASPEC) in Lagos.
Ayantayo said that the beneficiaries were retirees from the Mainstream, Local Government, State Universal Basic Board (SUBEB),Teaching Service Commission (TESCOM) and other parastatals of the state government.
He said that since the inception of the Contributory Pension Scheme (CPS) in 2007, the state government had maintained its leading role in the administration of the scheme and payment of pension obligations to its beloved retirees.
The commissioner said: “The state government is truly grateful for your hard work and recognises the need to protect your retirement benefits.
“This is why we are committed to the ideals of the CPS with an objective to ensure you receive income regularly in your retirement.
“We have all come together to honour and recognise the dedication, hard work, and invaluable contributions of our retirees present today.
“The retirement bond that we are presenting to you today is not merely a token of appreciation; it is a symbol of our enduring gratitude and respect for the years of hard work and dedication you have invested in the state.
“The bonds you have forged, the wisdom you have shared, and the legacy you have built would continue to inspire us,” he said.
According to him, the state government is grateful for the service of its retirees and committed to implementing policies that will support their wellbeing.
Ayantayo congratulated the retirees and prayed that God gives them good health to enjoy their benefits.
In his remarks, the Director-General, LASPEC,Mr Babalola Obilana, said that the state government presented N1.258billion to 605 retirees, as their past service benefits prior to the commencement of CPS in 2007.
The fund released is for the accrued pension paid for the month of January.
Obilana thanked Sanwo-Olu for his unwavering commitment to the welfare of the people of Lagos state.
He said that the governor had continuously prioritised the need of pensioners and approved policies to ease the financial burden on retirees.
The director-general congratulatulated the retirees and thanked them for their remarkable service.
Obilana said:”Lagos state is thankful for your accomplishments and the enduring contributions you have made throughout your distinguished careers.
“You have exemplified the values that define our dear state, such as integrity, commitment and excellence.
“Your dedication and hard work has shaped the success of the “Centre of Excellence”.
“You are a source of inspiration for us all, and your legacy will undoubtedly continue to resonate within the public service.
Obilana charged the senior citizens to be wary of fraudsters who prey on vulnerable pensioners and always reach out to the commission for any pension-related information or further clarifications.
He prayed that the retirees days ahead be filled with the joy of newly-found freedom and the satisfaction of a well-lived professional journey.
The director-general appreciated the commission’s stakeholders, the Pension Fund Administrators (PFAs) and insurance companies for their relentless efforts and support towards the success of the CPS.
