Lagos State Governor, Babajide Sanwo-Olu, on Wednesday, approved the release of N1.157 billion for the payment of Accrued Pension Rights to 368 public service retirees for the month of May.
Mr Babalola Obilana, Director-General, Lagos State Pension Commission, Mr. Babalola Obilana, disclosed this in a statement.
Obilana commended the governor for his commitment to ensuring that retirees got paid their terminal entitlements as and when due.
He said that to ensure the safety of all beneficiaries, in view of the COVID-19 pandemic, all bond certificates for the month of May had been released to the Pension Fund Administrators, adding that the PFA’s would invite beneficiaries in tens for the exit meeting and grant access to their Redemption Savings Account for the computation of their lump sum and monthly pension.
The LSPC director-general, who resumed duty a few weeks ago, assured the retirees that he would sustain and improve on the accomplishments of his predecessor.
He assured retirees yet to collect their bond certificates that they would soon be paid, as payments were being structured based on date of exit and also grade level.
Obilana further advised them to be cautious in investing their money so that they could live a stress-free life in old age.
The LSPC boss urged the retirees to always make use of the commission’s electronic platforms to send their correspondents.
Obilana said, “Scan and send all your documents to the agency through the e-mail address: email@example.com or firstname.lastname@example.org
“For enquiries, retirees can also check their retirement bond certificates readiness at LASPEC portal which is, laspecportal.com.ng.”