Lagos Pays N891 Million To 324 Retirees 

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The Lagos state government said on Tuesday it has again paid N891 million to 324 retirees from the mainstream civil service, local governments, state universal basic education and other parastatals for the month of July, 2016.

Speaking at the 29th Retirement Benefit Bond presentation ceremony recently, the Director-General, State Pension Commission (LASPEC), Mrs. Folashade Onanuga, advised the beneficiaries to use the lump sum payment by their respective Pension Fund Administrator judiciously.

She said the state government has fulfilled her own part of paying the retirees’ entitlements and that it is now left for the Pension Fund Administrators /Annuity Service Providers to fulfil their part of the arrangement by ensuring that monthly payment to retirees are made.

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The sum of N16,336,552 billion had already been paid to 3,924 retirees by the state government as accrued pension rights through LASPEC from August 2015 to July, 2016.

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