The Lagos State Government has released N784,690 million to offset the Accrued Pension Rights of its retirees.
This is contained in a statement released by Ajoke Lawal, the Lagos State Pension Commission spokesperson, on Wednesday in Lagos.
She said the state government released funds every month to ensure the ACR gradually got cleared and said the last release of fund was for June and in respect of 266 retirees.
The commission further said that the State Governor, Babajide Sanwo-Olu, would always ensure the welfare of the retirees from the state.
It said: “Sanwo-Olu, is committed to making sure that the payments of ACR continues monthly.”
The Director-General of LASPEC, Folashade Onanuga, in the statement, advised the retirees not to succumb to pressure of choosing either Annuity or Programmed Withdrawal pension payments options, to be used after retirement.
Onanuga said: “We advise the retirees to know the nitty-gritty of Annuity or Programmed Withdrawal benefit options before making their choice.
“Individual circumstance should be considered before making any choice.”
The LASPEC director-general further urged all the beneficiaries to be extremely cautious and careful when embarking on choice of business after retirement.
She added: “Do not go into business that you are not knowledgeable about.”
Trending
- Tiwa Savage features Nigerian, foreign stars in debut movie + Teaser
- Ondo 2024: PDP Committee Chair promises aspirants fair, credible primary election
- Breaking: Senator Ayogu Eze is dead
- Ondo 2024: PDP begins delegates accreditation ahead of primary
- Lagos workers now earn additional N35,000 wage allowance since January – Sanwo-Olu
- Akpabio’s recipe for justice reforms in Nigeria, by Ola Awoniyi
- FAAN diverts flight operations as fire breaks out at Lagos Airport
- FAAN initiates investigation of fire at Lagos airport