Lagos Pays 1 Billion Naira To Retirees
This is a good moment for Lagos retirees. The State Government has released 1.05 billion for the payment of accrued pension rights of retirees under the Contributory Pension Scheme in the state’s public service and local governments.
Lagos State Governor, Akinwunmi Ambode, was quoted to have said in a statement that “employees who had served the state and now retired deserved to be specially recognised, and be in the celebration mood for the Lagos at 50”.
The 1.05 billion should be able to take care of 241 retirees’ pensions, the statement noted.
During the 39th retirement benefit bond presentation ceremony in Lagos, the Director-General, Lagos State Pension Commission, Folashade Onanuga, advised the beneficiaries not to look for quick gains on their money because investments with higher returns could attract higher risks.
She also explained that even though there were two options available for receipt of pension entitlements, programmed withdrawal and life annuity, retirees wishing to access their Retirement Savings Accounts would only be able to draw pension under the programmed withdrawal module.
Bounce News would like to advise all beneficiaries and their relatives to continue to live normal lives and not attract unnecessary attention to their homes to avoid being contacted by men from the underworld.