Lagos State Governor Akinwumi Ambode has approved that another set of 525 retirees from the state public service be paid their outstanding retirement benefits totalling N2.1 billion for the month of September. This brings the number of retirees so far paid between August and September this year to 1,201, with a total sum of N4.5 billion expended.
Ambode had promised to continue monthly payment of retirees in the state until the backlog was cleared. With this arrangement, the tradition of retirees receiving their bond certificates monthly in Lagos without stress seems to be taking root.
Folashade Onanuga, director-general, Lagos State Pension Board, speaking at the retirement benefit bond certificate presentation in Ikeja, this week, reassured that the Ambode led-administration was determined to see to prompt payment of retirees’ benefits in addition to free healthcare services in Lagos State hospitals, as arrangements were on to provide them with retiree identification cards.
She explained that the pension fund administrators and annuity service providers must also accord the pensioners respect, as the money being paid to them was their rights and not privilege.
Onanuga however advised the retirees to be careful choosing the business they invest their money in, assuring that those yet to collect their bond certificates should be patient as payments were being structured based on date of exit and grade level.
Nine of the 525 retirees, who collected their bond certificates for September, were from the parastatals.
