The Lagos State Government has recently disbursed a total of N2.017 billion in retirement benefits to 644 retirees. The payment was made during the 101st batch Retirement Bond Certificate presentation held in Alausa, Ikeja.
During the event, Mr Babalola Obilana, the Director-General of the Lagos State Pension Commission (LASPEC), highlighted that this payment represents the retirees’ past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007. He emphasized the significance of the event as a recognition of the retirees’ dedication and exceptional contributions to the service of Lagos State.
Obilana further acknowledged the retirees’ hard work and commitment, stating that their unwavering dedication has played a crucial role in shaping Lagos State into the Center of Excellence it is today. The retirement bond certificates presented to the retirees not only hold financial value but also symbolize the trust and confidence the government has in them.
Mr Olawale Musa, the Permanent Secretary of the Lagos State Ministry of Establishments, Training and Pensions, commended Governor Sanwo-Olu for prioritizing the welfare of public service workforce, even in retirement. Musa advised the retirees to be prudent with their funds and carefully consider their investment options. He also assured them that LASPEC and the ministry are available to provide any necessary pension-related information or clarifications.
In conclusion, Musa applauded the retirees for their exceptional contributions and unwavering dedication to the development of Lagos State, while expressing his well wishes for their retirement filled with joy, fulfillment, and new experiences