In a demonstration of its commitment to the welfare of retirees, the Lagos State government has disbursed a total of N57.7 billion in pension benefits to 16,340 retirees since May 2019.
This disclosure was made by Mr. Afolabi Ayantayo, the Commissioner for Establishments and Training, during the 102nd batch of the retirement bond certificate presentation ceremony for retirees of the Lagos State Public Service.
Ayantayo expressed gratitude to Governor Babajide Sanwo-Olu for his administration’s dedication to the well-being of retirees. He stated, “Under his administration, the Lagos State Government has paid over N57.7 billion to 16,340 retirees in the Mainstream, Local Government, State Universal Basic Board, Teaching Service Commission, and other Parastatals of the State Government from May 2019 till date.”
Highlighting the ongoing efforts to prioritize retirees, Ayantayo mentioned that the governor had recently disbursed N1.26 billion as accrued pension rights to the Retirement Savings Accounts of 605 retirees. This amount was in addition to their monthly contributions.
Mr. Babalola Obilana, the Director-General of the Lagos State Pension Commission, expressed appreciation to Governor Sanwo-Olu for consistently prioritizing the needs of pensioners and implementing policies to alleviate financial challenges faced by retirees. Obilana also acknowledged the efforts of stakeholders, including Pension Fund Administrators (PFAs) and insurance companies, in contributing to the success of the Contributory Pension Scheme.
In a message to retirees, Obilana emphasized the significance of life after retirement, describing it as a transition from the professional hustle and bustle to the serene embrace of well-earned leisure. He conveyed appreciation for retirees’ enduring contributions and impact during their professional journeys, wishing them days filled with the joy of newfound freedom and the satisfaction of a well-lived career.
