The Lagos State Government has disbursed the sum of N711 million as pension payments to retirees for the month of September.
The Lagos State Pension Commission, LASPEC, in a statement on Monday by its Head of Public Affairs Unit, Basirat Lawal, said the N711 million was released to pay 287 retirees for that month.
LASPEC said Governor Akinwunmi Ambode, was represented by the Commissioner for Establishments, Training and Pensions, Akintola Oke, at the Retirement Bond Certificates Presentation on Sept. 29.
“The Agency in the month of September also released Insured death benefit cheques amounting to about N32 million to nine beneficiaries and next-of-Kin of deceased employees,’’ it stated.
Mr Ambode reiterated in the statement that Lagos State was committed by being up-to-date in Pension payments, and the administration advised the retirees not to live extravagantly.
The statement quoted the governor as saying that he has embarked on massive infrastructural development in the state that would, however, give great priority to those who have laboured and were now retired.
“I understand the challenges facing the retirees and that the receipt of their pension dues will enable them face the future, as well as other goodies in the pipeline,’’ Mr Ambode said.
The Director- General of LASPEC, Folashade Onanuga, in the statement also advised the pensioners to spend wisely.
“If you are in the evening time of your life, make sure you rest well, and do not do anything that will aggravate your health status.
“Use your pension for your basic needs and make sure you eat well and in moderation.
“The current economic challenges have affected the ability of youths to gain employment, such that in essence, many youths who should be taking care of themselves and their parents are still depending on them.
“I also advise the retirees to consider using the lump sum received to empower any resourceful child to start a family business, which could end up creating jobs for others,’’ Mrs Onanuga added.