Lagos State Governor, Mr Babajide Sanwo-Olu, has implored the 2000 retirees who got their contributory pension worth about N4.46b on Thursday not to donate it to churches, mosques, or religious groups.
Speaking at the 105 batches of retirement bond certificate presentation ceremony to retirees, Sanwo-Olu stated that the payment of the pension is a testament to the unwavering commitment of the Lagos State government to its retirees and celebrates their years of dedicated service to the beloved state.
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“This is not meant to solve all family problems. It is about you, what you have earned and worked for,” Sanwo-Olu said.
“When they say they want to build church or mosque and ask you to come out to pledge N3m. Don’t do that. God will give you the wisdom to act, Sanwo-Olu has done his part o.
“Today, we mark the 105th Retirement Bond Certificate presentation, a historic milestone as we transition into a new era of Pension Administration called “Pay-As You-Go.” From now on, all retirees of the State Government will be paid as they retire, provided all procedures and approvals have been completed before retirement,” Sanwo-Olu said.
“We have strategically prioritized clearing all backlogs of Accrued Rights payments to ensure our retirees enjoy dignity and financial stability after retirement. This commitment extends to the welfare of both current and former members of our workforce, recognizing their unblemished careers in the State Public Service.”
Sanwo-Olu disclosed that since the inception of the Contributory Pension Scheme, the state government has paid N141.2b to 35,191 retirees.
“Under this administration alone, we have paid N59.7b to 17,039 retirees, making Lagos State a top performer in pension payments. Today, I am pleased to announce that another 2,000 retirees will receive bond certificates worth a total of N4.46b. These funds, along with their monthly contributions, have already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators (PFAs).
“In addition to financial entitlements, the Lagos State government, through the Lagos State Health Management Agency, has launched a Health Insurance Scheme tailored specifically for our retirees. This scheme will provide access to a wide range of medical services, from routine check-ups to specialized treatments.
“This initiative underscores our commitment to the well-being of our retirees, ensuring that you receive not only what is due to you statutorily but also additional support and assistance to enhance your lives in retirement.”
Speaking at the ceremony, the Director General of Lagos State Pension Commission, Mr Babalola Obilana, said the ceremony would not have been possible without the support and cooperation of stakeholders and Sanwo-Olu.
“Today, the administration of Governor Babajide Olusola Sanwo-Olu will present another set of 2,000 retirees with a total sum of N4,461,659,536.82, being their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007,” Obilana said.
“Today’s ceremony would not have been possible without the support and cooperation of various stakeholders. I extend my heartfelt gratitude to the present administration under the leadership of Mr. Governor, Babajide Olusola Sanwo-Olu, and the Deputy Governor, Dr. Kadri Obafemi Hamzat, for their continuous support and commitment to the welfare of our retirees.”
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