The Lagos State Pension Commission (LASPEC) says the state government has credited the Retirement Savings Account (RSA) of 245 retirees with over N1 billion for the month of August.
Mr Babalola Obilana, Director-General, LASPEC, said this at the Retirement Bond Certificates presentation to the 88th batch of Contributory Pension Scheme (CPS) retirees on Tuesday, in Lagos.
Obilana said that the administration of the state under the leadership of Gov. Babajide Sanwo-Olu had been extremely passionate about the welfare of retirees.
He said that this was evident in the provision of funds for the payment of pension entitlements and lauded the governor for his unflinching support.
The director general appreciated the Commissioner for Establishment, Training and Pensions, the state’s approved Pension Fund Administrators and insurance companies for their effort to ensure retirees had unrestrained access to their benefits.
He said that the event was organised to present the retirees with the Retirement Benefit Bond Certificates showing their accrued pension rights.
Obilana said it was also to appreciate them for their meritorious service to the state under the discontinued Defined Benefit Scheme.
“I am so happy that you are here to collect your bond certificates and I pray God gives you all long life to the enjoy the fruits of your labour.
“I also enjoin you all to take very good care of yourselves, exercise regularly and desist from unimportant spending,” he said.
Obilana said that LASPEC had put in place strict business process for the seemless payment of pension entitlements.
“Please be very cautious of anyone offering their services to help you access your pension benefits for a token. You do not need a middleman to access your money,” he said.
Responding on behalf of the retirees, Oba Abdulwahab Ogunbiyi, Eleku of Odo Eku in Kwara State , a retiree of the Lagos State Civil Service Commission, thanked God for sparing the lives of the retirees to witness the ceremony.
” May God keep us all in good health and bless the money we have received today,” he said. (NAN)