The Lagos State Government has deposited N44.5 billion into the retirement savings accounts of its employees from May 2019 to October 2022.Information Guide Nigeria
Mr. Babalola Obilana, Director-General of the Lagos State Pension Commission, spoke at the 23rd Retirement Benefit Documentation Seminar for Lagos State Public Service retirees between January and July 2023.
He said, “The State Government is committed to the speedy resolution of pension issues and is constantly innovating to deliver first-class service to our retirees and intending retirees. Since the inception of the present administration in May 2019, over N44.5bn has been credited into the RSAs of 11,854 retirees.”
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He stated that the Lagos State Pension Commission had introduced and supported numerous reforms and business procedures, such as the RSA transfer window, the automation of business operations, and the inspection of pension fund administrators, in order to alleviate the burden of senior citizens.
The director-general stated that the government will not cease its efforts to safeguard the financial independence of workers.
He said, “We believe that your retirement should be seamless and stress-free after spending a significant amount of your productive years in service to the state.
“Today, you will be educated on the recent updates to the contributory pension scheme. There will be valuable information on managing your health and personal finances in retirement. Investment and estate planning tips will also be shared so we can maximise and fully enjoy our pension entitlements.”
According to him, the event was organized in conjunction with the state’s authorized pension fund managers and annuity service providers.JAMB Result
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