The Lagos State Government is planning a new efficient regime of pension scheme for its workers.

Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, told reporters in Lagos on Sunday that under the soon-to-be-unveiled regime, retirees will be paid their gratuity (lump sum) within three months after retirement.

“Governor Akinwunmi Ambode is working towards a three-month gratuity collection regime. Our amiable governor is working towards a regime that all pensioners will be able to access their gratuities within three months after retirement,” she said.

Onanuga also said that the governor was committed to the welfare of retirees as he had cleared the backlog of pensions.

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According to her, “Governor Ambode is fully committed to retirees’ welfare as he is working towards clearing pension backlog the administration inherited under the old pension scheme known as Defined Benefit Scheme before the Contributory Pension Scheme was introduced in 2004.

“He has cleared the pension backlog up till 2015. About 37 billion Naira has been released by Governor Ambode for 9,045 retirees since he assumed office.”

The director-general, however, advised retiring workers in the employ of the state government to study the two options available to them - Programmed Withdrawal and Annuity - at retirement carefully before taking decisions.

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