Lagos Retirees to get N1.5BN under Contributory Pension Scheme (CPS)

In a clear affirmation of its commitment to the welfare of its workforce, as well as ensuring that they have a better and fulfilling life after retirement, Lagos State Government will be paying another set of 234 retirees under the Contributory Pension Scheme (CPS), a sum of N1.5 Billion being their past service benefits prior to the commencement of the CPS in 2007.

The Director-General, Lagos State Pension Commission,
Mr. Rotimi Adekunle Hussain, who disclosed this in a statement released by the Commission, stated that the retirees would receive the retirement benefits during the 15th Retirement Bond Certificates presentation slated for the 30th of December, 2014 at the Nigeria Employers’ Consultative Association (NECA) auditorium in Lagos.

Hussain stressed that the present administration has since the adoption of the CPS in 2007 taken it as a point of duty and utmost importance to regularly organize the ceremony to present the retirees with their benefits, adding that they have enjoyed such benefits without any rancour or stress.

It would be recalled that a total of 5,530 retirees had been paid a total sum of N28.9 Billion till date with the 14th Bond Certificates presentation held in November 2014.


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