The Lagos State government has issued Retirement Benefit Bond Certificates to the tune of N1billion to another set of 275 retirees from the mainstream, local government, SUBEB, TEPO and parastatals of government, under the Contributory Pension Scheme for the month of May this year, Director-General, LASPEC, Mrs. Folashade Onanuga has said.
She made this declaration at the 27th batch Retirement Benefit Bond Certificate presentation ceremony held in Lagos. She said the payment has brought the number of retirees paid since August last year to May this year to 3,344.
According to her, 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 N14.7 billion.
She advised the retirees and beneficiaries to make wise use of the money being given because this turns it to assets.
Onanuga, however, stated that 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.
She further revealed that she emerged as the Pension Amazon of the year and Lagos State Government as the Most Pension Compliant State in the third edition of Business Today Online Pension and Insurance Awards 2015.
She said the award is apt as the commitment of the state has made Contributory Pension Scheme to be a success compared to other states.