Lagos pays 311 retirees N1.13b

LAGOS State Government  has presented Retirement Benefit Bond Certificates worth N1.13 billion to 311 public service retirees, the state’s pension commission (LASPEC) Director-General (DG), Mrs Folashade Onanuga, has said.

She spoke at the 65th edition of Retirement Benefit Bond presentation in Lagos, assuring retirees that the state government’s interest in the well-being of its retirees is paramount.

The current administration, she said, is a people oriented and sensitive to the yearnings of the people, and as such is willing to pay retirees’ pension benefits.

She urged retirees to be prudent with their pension and to use it judiciously, adding that they should  beware of fraudsters.

The DG also noted the differences between annuity and withdrawal programme, which are the two benefit options available under the Contributory Pension Scheme (CPS).

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