266 Lagos Retirees Get Pension Entitlements Worth N784.6M

A total number of 266 Lagos retirees have received Retirement Bond Certificates for a total sum of N784,690,000 at a presentation ceremony held at the NECA House Ikeja, Lagos.

During the ceremony, the Director-General, LASPEC, Mrs. Folashade Onanuga, reaffirmed the present administration’s commitment to the welfare of retirees saying, Governor Babajide Sanwo-Olu is focussed on ensuring that the payment of accrued pension rights continues unhindered monthly.

Onanuga urged all the beneficiaries to be extremely cautious and careful when deciding what to do after retirement, advising the retirees not to succumb to any pressure in the choice of Annuity or Programmed Withdrawal benefit options and patiently explaining the nitty-gritty of the two options for receipt of monthly pension to the retirees.

She cautioned the retirees to consider their individual circumstances before making a choice, saying they should not invest the money into a business they have little or no knowledge about.

In appreciation, the retirees applauded the new administration and wished Governor Babajide Sanwo-Olu’s government the best as he continues to take Lagos State to a higher level.