Lagos Disburses ₦1.08 Billion Pension Benefits to 648 Retirees
The Lagos State Government has approved the disbursement of ₦1.08 billion in accrued pension rights to 648 retirees across the state’s public service, reaffirming its commitment to the welfare and financial security of retired workers.
The announcement was made during the 115th Retirement Bond Certificate Presentation Ceremony held at the Adeyemi Bero Auditorium in Alausa, Ikeja. According to the Lagos State Government, the approved sum of ₦1,081,535,589.42 represents accrued pension rights earned before the introduction of the Contributory Pension Scheme (CPS) in 2007.
The beneficiaries include retirees from the Mainstream Civil Service, Local Government and Local Council Development Areas (LCDAs), the Lagos State Universal Basic Education Board (LASUBEB), the Teaching Service Commission (TESCOM), and other government agencies.
Speaking at the event, Lagos State Head of Service Bode Agoro commended Governor Babajide Sanwo-Olu for consistently prioritizing retirees’ welfare through the regular release of pension funds. He noted that prompt payment of retirement benefits demonstrates the government’s commitment to honoring the years of service rendered by public servants.
Officials from the Lagos State Pension Commission (LASPEC) also emphasized that timely pension payments strengthen confidence in the state’s Contributory Pension Scheme while providing retirees with greater financial stability after leaving active service.
The latest disbursement continues Lagos State’s ongoing efforts to clear pension obligations and maintain one of Nigeria’s more consistent public-sector retirement benefit systems, ensuring that eligible retirees receive their earned entitlements without unnecessary delays.
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