The Lagos State Government has disbursed N711 million payment under the Contributory Pension Scheme, CPS for the month of September 2017.
Benson Oke, Commissioner for Establishments, Training and Pensions at a conference, said the money was released for the payment of 287 retirees.
He said the governor, Akinwumi Ambode has embarked on massive infrastructural development in Lagos and that he still placed great priority on those who had laboured for the state and have now retired.
“He understands the challenges facing a retiree and that receipt of pension dues will enable them face the future,” he said, adding that there were other goodies in the pipeline the governor was looking at concerning their comfort.
The Director- General, Lagos State Pension Commission, LASPEC, Folashade Onanuga advised the pensioners to spend wisely.
She said: “You are in the evening time of your life, make sure you rest well, and do not do anything that will aggravate your health status. Use your pension for your basic needs and make sure you eat well and in moderation”
She noted that the current economic challenges had affected the ability of youths to gain employment and that in essence, many youths who should be taking care of themselves and their parents were still dependent on them.
She advised the retirees to consider using the lump sum received to empower any resourceful child to start a family business which could end up creating jobs for others.
Onanuga also educated the retirees who needed clarifications on different pension related subjects ranging from apportionment of benefits emanating from service in other States to computation of lump sum and pension received in the Contributory Pension Scheme (CPS) dispensation.
The Agency in the month of September also released Insured death benefit cheques amounting to about N32 million to nine beneficiaries/next of kin of deceased employees.
