The Lagos State Government (LASG) on Friday said it had credited the Retirement Savings Accounts (RSAs) of 321 retirees with the sum of N1.63 billion for December.
The Commissioner for Establishment, Training and Pensions, Mrs Ajibola Ponnle, said this at the 70th Batch Retirement Benefit Bond Certificate presentation to some of the retirees in the state.
Ponnle said that the state government was committed to ensuring that retirees get paid their terminal entitlements as and when due.
She said that since the inception of the Contributory Pension Scheme( CPS) in the country, Lagos State has continued to be in the forefront of ensuring an efficient and effective pension scheme administration.
“While salaries of active workers state wide are paid monthly, contributions into the RSAs of employees are also religiously remitted.
“We are very resolute to forging ahead with the Contributory Pension Scheme.
“The scheme is sustainable as it meets the challenges of the past pension scheme administration which being non-contributory relied totally on budgetary allocation of government.
“I have obtained the commitment of the management of the Lagos State Pension Commission (LASPEC) that accrued rights will be remitted into retirees’ RSAs on a monthly basis,” she said.
According to her, Gov. Babajide Sanwo-Olu, having served as Commissioner for Establishment, Training and Pensions in 2007, understands clearly what pension means to a retiree; because ‘pension is the life wire of every retiree’.
Ponnle stated that the governor upon assumption of office directed that pension obligations should be systematically cleared.
The commissioner noted that employees were the greatest assets of Lagos State.
She said that, that was why the government was committed to ensuring that they enjoy good conditions of service.
It had also continued to ensure that their entitlements were paid when they exit from service, she said.
“Let me reiterate that this administration is committed to ensuring that your service to the state will be rewarded with prompt payment of your terminal entitlemenents,” she said.
In her welcome address, Mrs Folashade Onanuga, the Director General, LASPEC, said that the event was put together to celebrate the retirees and also present to them their Retirement Benefit Bond Certificates.