The Lagos State Pension Board in January issued retirement benefit bond certificates worth N649 million to 119 retirees from the mainstream civil service, local governments, State Universal Basic Education Board, Teachers Establishment and Pension Office, and other parastatals of government.
“The total accrued pension rights paid by the state government from August 2015 to January 2016 is N10.652bn. Accrued pension rights are gratuity and pension entitlements due to staff who transited to the Contributory Pension Scheme but had served under the ‘Pay As You Go’ pension scheme dispensation,” it stated.
The Director-General, LASPEB, Mrs. Folashade Onanuga, advised the beneficiaries to take good care of their health and invest the money they were about to collect wisely, and that the should be wary of fraudsters and illegal business proposals.
“If you cannot think of any business at the moment, keep your money in fixed deposit accounts with banks,” Onanuga advised the recipients.
