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Lagos issues retirement benefit bond certificates to retirees

By Rosemary Onuoha

LAGOS State government has issued Retirement Benefit Bond Certificates to the tune of N1.002,856 billion to another set of 275 retirees from the mainstream, local government, SUBEB, TEPO and parastatals of government, under the Contributory Pension Scheme (CPS) for the Month of May, 2016.

A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) said the payment has brought the number of retirees paid between August 2015 to May, 2016 to 3,344, adding that the total accrued pension rights for years, spent under the Pay As You Go pension scheme paid on behalf of retirees by the State Government from the aforementioned month to date is N14.703,856 billion.

Director-General, LASPEC, Mrs. Folashade Onanuga  disclosed this while presenting 27th batch Retirement Benefit Bond Certificate to retirees at the Office premises, NECA House, Alausa, Ikeja. Onanuga, who was represented by the Head of Technical Directorate, LASPEC, Mr Olawale Otun advised the retirees/beneficiaries to make judicious use of the money being presented, because, this turns it to assets.

He was also happy to inform the retirees that the activity of the pension fraudsters who always put calls through to retirees, informing them of alleged short payments in their entitlements has been reduced drastically, due to the steps the Commission took in terms of sensitisation. Nonetheless, “you still have to be vigilant and smart” he concluded.


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