Lagos State Pays 597 Million Naira To 148 Retirees

Recently updated on May 1st, 2018 at 04:53 pm

The Lagos State Governor, Mr. Akinwunmi Ambode has continued the payment of retirees’ entitlements by paying the sum of 597 million Naira to another set of 148 retirees drawn from the Mainstream Civil Service, Local Governments and State Universal Basic Education Board (SUBEB), Teachers Establishments and Pensions Office (TEPO) and other parastatals of Government being accrued pension rights credited into their Retirement Savings Account.

The recent payment increased total payments by the Ambode-administration to 24.426 billion Naira as accrued pension rights to 5,668 retirees under the Contributory Pension Scheme, since August, 2015.

Speaking at the presentation of Retirement Benefit Bond Certificates to the 35th batch of Contributory Pension Scheme retirees, today at NECA House, CBD, Ikeja, Lagos, the Director-General, Mrs. Folashade Onanuga reiterated the Governor’s desire to see retirees enjoy their lives out of office without stress.

While advising them to be extremely careful so as not to fall victims of scammers with their benefits, she informed them that the option for those that would prefer Life Annuity services is now available as against Programmed Withdrawal benefit that was only obtainable in the last two months.