LASPEC trains 38 officials on reforms in pension administration
The Lagos State Pension Commission (LASPEC) has trained 38 pension desk officials on various reforms in the administration of the Contributory Pension Scheme (CPS) in the state public service.
The Director-General of LASPEC, Mr Babalola Obilana, made this known on Saturday at a seminar organised for Directors of Administration and Human Resources and Pension Desk Officers of parastatals in the state.
Obilana said that he expected the training, with the them, “Compliance with the Provisions of the CPS in Lagos State,” would be effective in facilitating financial freedom for retirees.
He said, “We at LASPEC have observed a few irregularities in the processing and payment of retirement benefits in various parastatals and the incessant requests for bailout from the state government, hence the need for this training on compliance.”
He also urged participants to pay attention to the different sessions and apply the knowledge gained in their respective offices.
He also expressed his appreciation for the organisers of the seminar, stakeholders, the Pension Fund Administrators and insurance companies for the success of the CPS.
According to him, Lagos State has been consistent with its leadership role in the implementation of the CPS in line with the provisions of the Lagos State Pension Reform Law of March 19, 2007, now amended.
Obilana said that with CPS, monthly contributions by employees and the state government were promptly paid into the relevant Retirement Savings Accounts (RSAs), in line with the state government’s vision to cater for its workforce even in retirement.
Mr Olumuyiwa Oshin, Director, Finance And Investment in LASPEC, said that the Commission desired that participants would be its worthy ambassadors in their various Ministries, Departments and Agencies (MDAs).
“We will be proud to see retirees from your parastatals when they come to LASPEC with their documentation properly guided,” Oshin said.
Commenting, the participants separately appreciated the Commission for organising the training for them.
They also said that the training had helped them to understand the annuity and programme withdrawal monthly pension option for retirees and would henceforth be able to guide their prospective retirees better.
The participants were drawn from the Lagos State Development And Property Corporation (LSDPC), Internal Revenue Service (LIRS), IBILE Oil And Gas, IBILE BroadBand, New Town Development Authority among others
