Lagos disburses N30bn to pensioners under CPS

The Lagos State Government has said it paid N30.479, 043.146,76, into the Retirement Saving Accounts, RSA, of 5,773 retired civil servants on the Contributory Pension Scheme. CPS.

The sum represents their past service benefits prior to the commencement of the CPS in 2007.

Presenting cheques worth N1, 547,072,068.70 to 234 state retirees on the CPS, during the 15th Retirement Bond Certificates ceremony at Ikeja, Director-General, Lagos State Pension Commission, LASPEC, Mr. Rotimi Adekunle Hussain, said the programme was a clear affirmation of the present administration’s commitment to the welfare of its workforce, as well as ensuring a better and fulfilling life after retirement.

According to Hussain, “The administration of Governor Babatunde Fashola since the adoption of the Contributory Pension Scheme in 2007 has taken it as a point of duty and utmost importance to always organize the ceremony to present the retirees with their retirement benefits.

“As at the 14th Bond Certificates presentation held in November of this year, a total of 5,530 pensioners had been paid a total sum of N28, 931,971,078.06 only. This implies that adding today’s presentation, the state government has paid into the Retirement Saving Accounts, RSA, of 5,773 retirees under CPS a total of N30.479,043.146,76, only”.