Lagos pays N1.3 billion to 246 retirees for October

By Emmanuel Awosika

The Lagos State Government paid around N1.3 billion in accrued pension to retirees from the state’s public service in October.

This is according to Mr. Babalola Obilana, Director-General of the Lagos State Pension Commission who disclosed it on Sunday.

According to Obilana, “A total of one billion, three million, three hundred and seventy-four thousand, three hundred and seventy-two Naira, sixty-eight kobo was paid.”

Beneficiaries of the pension payments include retirees from the Local Government Service, State Universal Basic Education Board, Teaching Service Commission and other state parastatals.

The LASPEC boss commended Governor Babajide Sanwo-Olu’s commitment to the welfare of pensioners in the state, saying he had continued pension payments even with the economic downturn caused by the COVID-19 pandemic.

“This shows the commitment of Gov. Sanwo-Olu to the welfare of the pensioners in the state,” he added.

He also praised the retirees for their meritorious performance while in the state’s service.

He said they could choose the Programme Withdrawal or Life Annuity plan to receive their pension payments. He, however, urged them to consider details of each plan before making a decision.