Lagos retirees got pension in Q4 2022 — State Govt.


The Lagos State Pension Commission has denied a report that the state government failed to make payments to retirees in October, November and December 2022.

In a statement made available to our correspondent, the agency said the sum of N1.062bn was paid to 288 retirees on October 14, 2022, and the sum of N2.54bn to 754 retirees in December 2022.

The agency pointed out that the status of implementation of the Contributory Pension Scheme in states, a quarterly assessment report produced by the National Pension Commission, certified Lagos as the most compliant on the scheme.

The statement read in part, “Under the leadership and administration of Mr. Governor, Babajide Sanwo-Olu, the Lagos State Government increased the employers’ portion of 7.5 per cent to 10 per cent monthly pension contributions to employees’ Retirement Savings Account. From January 2022 to date, the state government has remitted the sum of N13.7bn for mainstream employees, N3.18bn in the local government, N3.319bn for State Universal Basic Education Board employees.”

In addition, LASPEC said the state maintained life assurance policy coverage of 300 per cent of annual emolument in favour of all employees.

“In line with the ideals of the Contributory Pension scheme, the administration of Mr. Governor, Babajide Olusola Sanwo-Olu, has worked assiduously to ensure the consistent payment of pension liabilities.

“In line with the ideals of the Contributory Pension Scheme, the administration is committed to improving the welfare of our senior citizens and has initiated various programs to secure the financial freedom of our retirees”.

The agency concluded by reiterating the state’s commitment to clearing all outstanding obligations and ensuring the well-being of state retirees.

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