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Lagos to pay N1.5bn accrued pensions


The Lagos State Government through the State Pension Commission plans to pay N1.5bn accrued pension rights to its retirees under the Contributory Pension Scheme on Friday (today).

A statement from LASPEC said the accrued pension rights, being the entitlements of the retirees under the discontinued ‘Pay-as-you-go pension scheme’ would be remitted into the Retirement Savings Account of the retirees drawn from the mainstream service, local governments, SUBEB and the teaching service commission.

As part of its regular payment of retirement bonds to its pensioners, the commission urged its invited beneficiaries for the month of August to come for the collection of their retirement benefits bond certificates.

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