Governor Babajide Sanwo-administration Olu has paid another set of 532 retirees N1.2 billion in past service benefits prior to the implementation of the Contributory Pension Scheme (CPS) in 2007.
Mr. Babalola Obilana, Director-General of the Lagos State Pension Commission, announced this at the 99th Batch Retirement Bond Certificate Presentation at NECA, Ikeja.
Obilana, who presented the certificates to the retirees of the Lagos State Public Service, stated that the state had been working in accordance with the CPS’s ideals.
He emphasized that the Sanwo-Olu administration had been ensuring consistent payment of pension liabilities and first-rate service to its retirees.
He said: “This administration is committed to improving the welfare of our senior citizens and has initiated various programs to secure the financial freedom of our retirees. Today, we are here to celebrate your dedication and service to Lagos State. Your labor while in public service has not been forgotten. Thank you for your contribution to the dream of a greater Lagos.
“We appreciate our stakeholders, the PFAs/Insurance companies for their relentless efforts towards the success of the CPS. I also want to enjoin retirees to take very good care of themselves because health is wealth. Be prudent with your expenses,” he advised.
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