Lagos issues N1bn pension bonds to 260 retirees

The Lagos State Government has issued retirement benefit bond certificates for a total sum of N1.08bn to 260 retirees.

A statement said the beneficiaries were from local governments, the State Universal Basic Education Board, Teachers’ Establishment and Pension Office and parastatals of government, under the Contributory Pension Scheme for the month of April.

According to the statement obtained from the Lagos State Pension Commission, the fact that this administration has been able to maintain the trend of paying terminal entitlements of retired employees monthly since it started in August, 2015 is highly commendable.

“This payment has brought the number of retirees paid between August 2015 and April, 2016 to 3,069. The total accrued rights paid by the state government from the aforementioned month to date is N13.7bn,” it started.

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During the presentation of the 26th retirement benefit bond presentation at LASPEC office recently, LASPEC stated that the Director-General, Mrs. Folasade Onanuga, advised the retirees to carefully take decisions on how the funds would be utilised.  Copyright PUNCH.
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