By Eseohe Solomon
In a significant milestone for Lagos State, the government has successfully eradicated the pension backlog by disbursing a total of ₦4,461,659,536.82 to 2,000 retirees. This achievement follows a commitment made earlier this year when ₦3.1 billion was paid to 1,013 retirees, signaling the state’s determination to settle all outstanding pension obligations.
Since the inception of the current administration, a staggering sum of ₦68,164,627,407.21 has been injected into the Retirement Savings Accounts (RSAs) of retirees across various government sectors including Mainstream, Local Government, SUBEB, TESCOM, and other parastatals. This accomplishment underscores Lagos State’s leading role in efficient pension benefits administration under a robust Pay As You Go framework.
- Sanwo-Olu adressing the Pensioners
Highlighting the state’s commitment to retirees, Lagos has introduced immediate disbursement of full pension benefits and gratuity upon civil service retirement. This initiative aims not only to meet statutory obligations but also to enhance the welfare of retired employees significantly.
Further demonstrating its dedication to retirees’ well-being, Lagos State has launched a bespoke Health Insurance Scheme tailored specifically for pensioners. This scheme ensures retirees have access to a wide array of medical services, ranging from routine check-ups to specialized treatments, thereby enhancing their quality of life in retirement.
The Director-General of the Lagos State Pension Commission, Mr. Babalola Obilana, and his team have been commended for their unwavering commitment and professionalism in achieving these milestones. This concerted effort reaffirms Lagos State’s legacy as a leader in pension benefits administration, setting a benchmark for other states to emulate.
