Lagos State Honors Retirees with N2.017 Billion Retirement Benefits

Faridat Ogundairo

The Lagos State Government has disbursed N2.017 billion in retirement benefits to 644 of its retirees.

The Director-General of the Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, disclosed this payment on Wednesday during the 101st batch Retirement Bond Certificate presentation for retirees.

Obilana stated that the payment represented the retirement benefits of the retirees for their past service before the commencement of the Contributory Pension Scheme in 2007.

He emphasized that the event aimed to celebrate a significant milestone and exceptional retirees who had dedicated their time, energy, and talents to the service of Lagos State.

He said, “It is indeed an honor to recognize and commend the retirees’ hard work and commitment demonstrated throughout their years of service to Lagos State.

“This retirement bond certificate presentation is not just a formality; it is a moment to reflect on the remarkable contributions you all have made.

“Your unwavering dedication has helped shape Lagos State into the Centre of Excellence it is today.

“These retirement bond certificates symbolize more than just financial rewards; they represent the trust and confidence we have in our retirees.

“They are a testament to the lasting impact you have made, just as your dedication has been the bedrock of the goal of a greater Lagos State.’’

The Permanent Secretary of the Lagos State Ministry of Establishments, Training, and Pensions, Mr. Olawale Musa, lauded Governor Babajide Sanwo-Olu for his commitment to prioritizing the welfare of the public service workforce, even post-retirement.

Musa offered advice to the retirees, urging them to handle their finances prudently and exercise caution when selecting investment options.

He also encouraged retirees to freely seek assistance from LASPEC or the ministry for pension-related information or clarifications.

“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement is filled with joy, fulfillment, and new experiences,’’ Musa said.

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