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The Lagos State Government has paid, more than N1 billion into the Retirement Savings Accounts.

The Governor of lagos state, Babajide Sanwo-Olu has paid, more than N1 billion into the Retirement Savings Account (RSA's) of 246 retirees in the state's public service for October. 

Mr Babalola Obilana, Director General, Lagos State Pension Commission (LASPEC), made the announcement on Sunday in Lagos. 

"A sum of one billion, three million , three hundred and seventy four thousand ,three hundred and seventy two naira, sixty eight kobo was paid," Obilana said. 

He clarified that the beneficiaries, included workers from the standard level, Local Government Service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM) and different department of the state government. 

Gov. Babajide Sanwo-Olu has reliably paid the monthly dues of retirees and accumulation of some unpaid pension acquired from past organizations. 

The director general complimented all the retirees for delivering praiseworthy support to the state. 

Obilana said that notwithstanding the condition of the country and outcome of the worldwide COVID-19 pandemic

The state government in accordance with the vision of a more developed Lagos and its responsibility to budget opportunity for the state's retirees, guaranteed the payment of pension dues. 

"This shows the responsibility of Gov. Sanwo-Olu to the well being of the pensioners to benefit in the state," he said. 

The director general told the retirees on the two payment alternatives accessible for getting to their month to month pension benefits, which is the Program Withdrawal and Life Annuity. 

He asked the retirees to understand the details of the two alternatives and pick the most fitting choice suitable to their situation.

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Babajide Sanwo-Olu Babalola Obilana Lagos State Retirement SUBEB


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