Lagos pays N11.75 billion to 2,886 retirees

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Commissioner for Establishments, Training and Pensions, Dr. Benson Oke addressing the ministerial press conference on Monday.

By Kazeem Ugbodaga

Lagos State Government on Monday said it has paid the sum of N11.75 billion to 2,886 retirees under the Contributory Pension Scheme, CPS, in the last one year.

Commissioner for Establishments, Training and Pensions, Dr. Benson Oke disclosed this at a ministerial press conference in Alausa, Ikeja, Lagos, Southwest Nigeria, adding that government’s funding of employees’ pension rights under the CPS since inception stood at N138.4 billion.

According to Oke, the state government, through the Lagos State Pension Commission (LASPEC) had paid the sum of N11.75 into the Retirement Saving Account (RSA) of 2,886 retirees, out of which 1,291 of the retirees were from the local government and State Universal Basic Education Board, SUBEB; 697 from…

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