The Lagos State Government has once again reaffirmed its commitment to the welfare of its workforce and senior citizens with the disbursement of ₦1,003,733,090.49 as accrued pension rights to 465 retirees across the state’s civil service, local governments, and parastatals.
The gesture was made through the Lagos State Pension Commission (LASPEC) during the 111th Retirement Bond Certificate Presentation Ceremony, held at NECA House, Alausa, Ikeja.
The beneficiaries of this latest batch include retirees from the Mainstream Civil Service, Local Government Councils, the State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM), and other parastatal organisations.
Speaking at the event, the Director-General of LASPEC, Mr. Babalola Obilana, noted that the exercise underscores the commitment of Governor Babajide Sanwo-Olu’s administration to ensuring prompt payment of retirees’ entitlements and prioritising their welfare.
He described the ceremony as a “celebration of commitment, excellence, and loyalty,” commending the retirees for their years of dedicated and meritorious service to the state.
“This event is not just about bond certificates and figures; it is a demonstration of Governor Sanwo-Olu’s compassion and his unwavering resolve to ensure that no retiree who served Lagos State diligently is left behind,”Obilana stated.
He assured that the government would continue to improve the efficiency of pension administration in the state through sustained reforms and prompt remittances to retirees’ Retirement Savings Accounts (RSAs).
The event featured goodwill messages from representatives of pension fund administrators, retirees’ associations, and other stakeholders, all commending the Lagos State Government for maintaining its reputation as a leading subnational in pension management and workers’ welfare.
The beneficiaries expressed appreciation to the Governor and LASPEC for the transparency and consistency in the payment process, describing the bond presentation as timely and impactful.
With the latest disbursement, Lagos continues to consolidate its position as a model for pension administration and post-service care in Nigeria, ensuring that retirees who served the state receive their entitlements with dignity and honour.
