Sanwo-Olu approves N1.157b pension payment to 368 retirees

Lagos State Governor Babajide Sanwo-Olu has approved the release of N1.157 billion for the payment of accrued pension rights to 368 public service retirees for the month of May. He said the approval was part of the government’s commitment to ensure the retirees are well-taken care of after their meritorious service to the government and state at large.

Director-General, Lagos State Pensions Commission (LASPEC), Babalola Obilana, in a statement yesterday, said the approval was to ensure that retirees get their terminal entitlements paid at the appropriate time.He said that all bond certificates for the month of May had been released to the Pensions Fund Administrators (PFA) to protect beneficiaries from COVID-19 transmission.

According to him, the PFA’s will invite beneficiaries in tens for the exit meeting and grant access to their Redemption Savings Account (RSA), for the computation of their lump sum and monthly pension.

Obilana, who urged the retirees to always make use of the commission’s electronic platforms to send their correspondents, said: “Scan and send all your documents to the agency through the e-mail address: info@laspec.gov.ng or morenike.makinde@laspec.gov.ng

“For enquiries, retirees can also check their retirement bond certificates readiness at LASPEC portal which is laspecportal.com.ng.”