The Lagos State Pension Commission Director General Mr. Babalola Obilana has disclosed that under Governor Babajide Sanwo-Olu, the State government has paid N32,276.395,658.43 to 7,998 retirees in the past two years.
The State government considers the protection of retirees as the top priority and is committed to the speedy settlement of all national pension issues, Obilana said at the 85th Bond presentation ceremony held recently on LASPEC Hall at the NECA House, Alausa.
According to him, the current administration is determined to complete Accrued Pension Rights backlog payments by the end of Mr. Governor’s term in office, so that pensioners can receive their entitlements upon retirement from the State’s Public Service.
The Director-General stated that 329 Retirement Saving Accounts (RSAs) have already been credited with more than N1 billion as part of the Government’s commitment to the welfare of retirees.
He, therefore, advised retirees to choose the right option for their needs between Annuity and Programmed Withdrawal, urging them not to focus on the decision of others but to ensure they select the choice that best suits them.
He stated that the suspension, which was effective immediately, would allow the committee to investigate the allegation further.