LAGOS PAYS N515 MILLION TO 252 RETIREES.

The Lagos State Governor, Akinwunmi Ambode has urged retirees not to put their retirement money into ventures they could not manage.

A statement by Mrs. Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) said the Governor, who was represented by the Commissioner, Lagos State Ministry of Establishment, Training and Pensions, Dr. Akintola Benson at the 41st retirement Bond Certificate Presentation Ceremony held on Monday July 31st at the office premises, Ikeja noted that continuous payment of retirees entitlements was to ensure that retirees do not live in penury.

He said in 24 months, from August 2015 to July 2017, the state government through LASPEC has paid accrued Pension rights in the sum of N29,658,560 billion into the Retirement Savings Accounts (RSA) of 6,982 retirees.

This is aside the mandatory 15% contributions which the government remits monthly into the RSA of all the state employees.

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