• June 23, 2021

N4.2 Billion Disbursed By Lagos State Govt In Two Years As Pension Arrears

By Nkoli Opara (AGENDAWATCHDOG) – According to the Lagos State Government, it has paid N4,203,784,514.49 arrears to pensioners in the state under the Defined Benefits Scheme otherwise known as ‘Pay As You Go’ from May 2019 to March 2021.

This was disclosed by the Lagos State Commissioner for Establishment, Training, and Pension, Mrs. Ajibola Ponle, on Wednesday, at the 2021 ministerial press briefing which is part of activities to mark the second anniversary of Governor, Babajide Sanwo-Olu-led administration.

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According to the cabinet member, the disbursement was proof of the state’s commitment to the welfare of pensioners, adding that Governor Sanwo-Olu approved payment of 33 percent increment for all state pensioners under the Defined Benefit Scheme and also paid the balance of the 25 percent rent allowance for officers on Grade Level 07 and above who retired between May 2000 and August 2004.

While stating that there are currently 15 approved Pension Funds Administrators (PFA) and seven approved Insurance Companies who render pension funds management and annuities services to retirees in the State, Ponle said that Lagos State was a trailblazer and pacesetter in pension matters in Nigeria having won awards as most pension compliant in the dispensation on several occasions, adding that as part of measures to better the lives of pensioners in the state in line with the current administration policy of inclusion, the Ministry is always interfacing with relevant stakeholders such as Nigerian Union of Pensioners, Association of Retired Heads of Service and Permanent Secretaries and others.

Agenda Watchdog

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