Governor Babajide Sanwo-Olu has advised the about 2000 retirees from the state’s civil service who have received their contributory pension worth about N4.46 billion not to donate same to churches, mosques or religious groups.
Speaking at the retirement bond certificate presentation ceremony to retirees, Sanwo-Olu noted that the payment of pension is a testament to the unwavering commitment of the state government to its retirees and celebrates their years of dedicated service to the beloved state.
He said: “Today, we mark the 105th Retirement Bond Certificate presentation, a historic milestone as we transition into a new era of Pension Administration called ‘Pay-As You-Go.’
“From now on, all retirees of the state government will be paid as they retire, provided all procedures and approvals have been completed before retirement.
“We have strategically prioritized clearing all backlogs of accrued rights payments to ensure our retirees enjoy dignity and financial stability after retirement.
“This commitment extends to the welfare of both current and former members of our workforce, recognizing their unblemished careers in the state public service.”
Sanwo-Olu maintained that since the inception of the Contributory Pension Scheme, the state government has paid N141.2b to 35,191 retirees.
“Under this administration alone, we have paid N59.7b to 17,039 retirees, making Lagos State a top performer in pension payments. Today, I am pleased to announce that another 2,000 retirees will receive bond certificates worth a total of N4.46b,” the governor said.
“These funds, along with their monthly contributions, have already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators (PFAs).
“In addition to financial entitlements, the Lagos State Government, through the Lagos State Health Management Agency, has launched a Health Insurance Scheme tailored specifically for our retirees. This scheme will provide access to a wide range of medical services, from routine check-ups to specialized treatments.
“This initiative underscores our commitment to the well-being of our retirees, ensuring that you receive not only what is due to you statutorily but also additional support and assistance to enhance your lives in retirement.”
Speaking at the ceremony, the director general of Lagos State Pension Commission, Mr. Babalola Obilana, appreciated the governor and other stakeholders for their support.
