Lagos State Government has presented Retirement Benefit Bond Certificates worth N632.3 million to another set of Public Service retirees for the month of December 2018, majority of whom were from the State Universal Basic Education Board (SUBEB).
The Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson-Oke, speaking on Tuesday at the 58th edition of Retirement Benefit Bond Presentation Ceremony held at the LASPEC Complex, NECA House, Ikeja, said that the State Government will continue to ensure prompt payment of all the rights and entitlements due to its workforce as a way of motivating them to effectively and efficiently discharge their duties.
He said that the State Government has never failed to remit monthly contributions into the Staff Retirement Savings Accounts being maintained by the 13 approved Pension Fund Administrators, noting that Lagos has consistently distinguished itself as a leading State in the management of pensions and pensioners
In his words “Let me remind you that about two weeks ago, on the 29th of November 2018 precisely, a total number of 137 retirees received Bond Certificates worth N739,993,596.69 million. So, within a short period of three weeks, the Government has brought joy to a total number of 276 retirees with a total payment of N1,372,326,833.59 billion”.
He submitted that through this laudable effort the Lagos State Government has won several awards for excellence in Pension Administration, while LASPEC has also won the Distinguished Award of Excellence on Pension Matters for the Year 2018 from Peninscope Professional Warranty Limited.
Earlier, the Director-General, LASPEC, Mrs. Folasade Onanuga explained that the Lagos State Government has always been in the vanguard of employees’ welfare, stressing that Mr. Akinwunmi Ambode has not derailed in his promise to give priority to the issue of workers’ welfare.
She advised retirees to spend wisely in retirement and take proper care of their health.
Meanwhile, the State Government through the Commission has also made payment to the 11th batch of named beneficiaries of eight deceased employees’ insurance benefits worth the sum of N15,696,022.83 million
