LASG expends N28.5b on retirees in 2 years – Pencom boss

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The Lagos State government has spent N28.5 billion as payment to 6, 509 its pensioners in the last two years

The Director-General of the Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga disclosed this on Wednesday at the 12th Retirement Documentation Seminar in Lagos.

The News Agency of Nigeria (NAN) reports that the seminar was organised for employees of the state government who are due to retire this year.

Onanuga said about N62 billion has been paid into Retired Savings Account (RSA) of about 13,675 retirees since the commencement of the payment of entitlements in the Contributory Pension Scheme (CPS) in 2007.



“ The state retirees are peacefully enjoying their life in retirement.

“Out of the above number, the administration of Gov. Ambode in a period of less than two years was responsible for liberating 6,509 retirees.

She said the governor was committed to the welfare of the retirees and had directed all ministries and agencies to ensure that employees Retirement Saving Accounts are credited promptly.

According to her, Lagos remains the only state that fully complies with the provisions of the Pension Reform Law as it relates to contributions remittances.



She said the state government has also invested in the LASPEC to operate an e-environment to ensure the commission delivered seamless service.

“Through this, the commission has been able to introduce the Employees Retirement Evaluation System (ERES) to aid and facilitate the benefit payment system.

“The software is to hasten the process of computing the past service benefits of retirees with minimal human intervention and zero per cent error rate“ she said.

She said the government has perfected the Electronic Archiving records of finalizing the Retiree Identification Card Issuance process.



She advised the participants to file in their retirement papers on time so that necessary approvals would be obtained from relevant agencies of government.

She also advised them to demand for a comprehensive statement of account from their Pension Fund Admnistrators (PFA) for scrutinisation .

“Some retirees do not even know their PFAs pin number, sometimes the pin number in payment slip is different from the one with the PFA’s themselves.

“How will state government pay such retirees ?” she said.

The Commissioner for Establishment, Training and Pensions, Dr Akintola Oke reiterated the commitment of the government to the welfare of retirees.

“Many employers of labour, indeed many state governments do not see the need to prepare their employees for new life.

“This administration, however, is a people-oriented one and has resolved that everyone who has worked diligently has to be recognized and paid’’ he said.

LASPEC was established in 2007 to provide a regulatory service on pension matters to all employees in Lagos Sate Public Service. (NAN)


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