Lagos State pays N2.017bn past service benefits to 644 retirees

“These retirement bond certificates symbolise more than just financial rewards; they represent the trust and confidence we have in our retirees."

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Lagos state pays n2. 017bn past service benefits to 644 retireesLagos State Government paid N2.017 billion as retirement benefits to 644 of its retirees Wednesday.

Director-General, Lagos State Pension Commission, (LASPEC) Mr Babalola Obilana, disclosed this at the 101st batch Retirement Bond Certificate presentation for retirees in Lagos State.

Obilana said Wednesday’s payment represented the retirees’ past service benefits prior to the commencement of the Contributory Pension Scheme in 2007.

He noted that the event was organised to celebrate a significant milestone and exceptional retirees who had dedicated their time, energy and talents to the service of Lagos State.

“It is indeed an honour to recognise and commend the retirees’ hard work and commitment demonstrated throughout their years of service to Lagos State.

“This retirement bond certificate presentation is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made.

“Your unwavering dedication has helped to shape Lagos State into the Centre of Excellence it is today.

“These retirement bond certificates symbolise more than just financial rewards; they represent the trust and confidence we have in our retirees.

“They are a testament to the lasting impact you have made just as your dedication has been the bedrock of the goal of a greater Lagos State,’’ Obilana said.

In his remarks, Mr Olawale Musa, Permanent Secretary, Lagos State Ministry of Establishments, Training and Pensions, lauded Gov. Babajide Sanwo-Olu for prioritising the welfare of public service workforce even in retirement.

He advised the retirees to be prudent with their money and to be careful about choosing investment options.

He also admonished the retirees to feel free to reach out to LASPEC or to the ministry for any pension-related information or further clarifications.

“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement be filled with joy, fulfilment and new experiences,’’ Musa said.