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Lagos credits over N8.7bn to RSAs of 2,309 retirees in H1, 2020

Lagos Government has confirmed paying the sum of N8,778,026,349.63 million to its retirees between January and June, 2020.

Director-General of Lagos State Pension Commission, LASPEC, Mr. Babalola Obilana, who disclosed this while giving an update on payment, said 2,309 Retirees Accrued Pension Rights have been credited into their Retirement Savings Accounts (RSA).

Abeyanews quoted the Director-General as affirming that the state remains exceptional in the prompt payment of accrued pension rights to its retirees.

He further reiterated the resolve of the state Governor, Mr.Babajide Sanwo-Olu, to the timely payment of all accrued pension rights.

A total number of 405 Retirees Redemption Savings Account (RSA) have been credited in the month of June, 2020 totaling the sum of N978,530,632.72.

In compliance with the coronavirus disease (Covid-19) safety protocols and in order to ensure safety of all beneficiaries, the DG stated that the retirement Bond Certificates presentation Ceremony will not hold, adding that all Retirement Bond Certificates for June have been released to Pension Fund Administrators who will invite beneficiaries in their ten’s for the exit meeting and grant access to their RSA for the computation of their lump sum and monthly pension.

Speaking further, he said prompt payment of pensions and welfare of retirees remains the focus of Lagos State Pension Commission.

“This Government will continue to deliver tangible dividends of democracy to all and sundry in the State,” the DG assured.

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