Lagos State government has paid N125.941
billion to pensioners in the state in
nine years, Commissioner for Establishments, Training and Pensions, Dr.
Akintola Benson Oke has said.
He made this known in his keynote
address at the 11th Retirement Benefit Documentation Seminar for Lagos State
Public Service employees due to retire from January to June, 2017.
According to him, the state
government in last 16 months under Governor Akinmunmi Ambode’s administration
has paid N21.929 billion as accrued pension rights to 5,027 retirees.
He stated that as at November
2016, accrued pension rights of about N55. 941 billion had been paid to 12,426
retirees since the commencement of payment of entitlements in the CPS
dispensation.
The state government is also committed to the regular contribution of the
monthly deduction of 7.5 per cent from every employee and the employer’s 7.5
per cent, adding that the total contributions remitted to the Pension Fund
Administrators ( PFAs) from April, 2007 is about N70 billion as at October,
2016.
To bridge the gap in the
inadequacy of the funding rate recommended in the Pension Reform Law and for
the year 2016, he said the Governor Ambode has approved a pension bailout fund
of N6.5b.
He said while there are still
some backlogs of pension payment to be cleared, the state is committed and
hence all hands are on deck to ensure entitlements are promptly paid.
Director-General, Lagos State
Pension Commission (LASPEC), Mrs Folashade Onanuga added that the state
government remains the only state that is up to date in monthly remittance of
contributions into employees’ Retirement Savings Accounts (RSAs).
She said: “The state has not
shirked in her responsibilities and commitment to the regular funding of
employees’ RSA. We remain the only state that has also not reneged in the
funding of the Retirement Benefit Redemption fund and Pension Sinking Fund accounts
NigerianTribune
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