The Lagos State Government has achieved a significant milestone in pension benefits administration, clearing all pension backlog with the payment of ₦4,461,659,536.82 to 2,000 retirees. This payment fulfills the promise made in February to settle all arrears and current pension liabilities.
Since its inception, the administration has paid a total of ₦68,164,627,407.21 into the Retirement Savings Accounts (RSAs) of retirees across various sectors, including mainstream, local government, SUBEB, TESCOM, and parastatals.
This achievement ensures that employees who retire from the civil service will receive their full pension benefits and gratuity immediately after retirement, solidifying Lagos State’s lead in pension benefits administration with a “Pay As You Go” template.
In addition, the state government launched a Health Insurance Scheme specifically designed for retirees, providing access to a wide range of medical services.
The Governor commended the DG of the Lagos State Pension Commission, Mr. Babalola Obilana, and his team for their dedication and professionalism in achieving this milestone.
This development demonstrates the state government’s commitment to prioritizing the welfare of retired workers and enhancing their lives in retirement.
