There is no better time to be a retired worker in Lagos State.

The Lagos government has ensured regular and prompt payment of their pension benefits.

For the month of May, the Lagos State Government said it had released the sum 859.05 million naira to pay accrued pension rights to 158 public service retirees under the Contributory Pension Scheme.

According to a statement on Saturday, the Commissioner, Lagos State Ministry of Establishment, Training & Pensions, Dr. Benson Akintola, said this while addressing retirees at the 51st retirement benefit bond certificate presentation ceremony in Lagos.

Akintola said 9,045 retirees had accrued pension rights of over 37.54 billion naira paid into their Retirement Savings Accounts from inception of this administration to date.

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"Despite the fact that the funding obligations of the current pension scheme is high, Lagos State is committed to the well-being of the pensioners and its active members of staff.

"Hence, funds are released regularly to pay workers’ salaries and pensioners’ dues", he said.

The Director-General, Lagos State Pension Commission, Folashade Onanuga, also informed the retirees that the present administration is fine-tuning the process of rolling out benefits that would make life easier for the retirees.

She asked the retirees to study the leaflets distributed by the state government in respect of the two options for the receipt of monthly pension entitlements before making a retirement option.

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