LASG Offsets Pension Obligations With N2BN in 3 Months

LASG Offsets Pension Obligations With N2BN in 3 Months

The
                                 Nigerian-British
                                 Chamber of Commerce - LASG Offsets Pension Obligations With N2BN in 3 Months
Latest News & Updates August 7, 2018

The Lagos State Government says it has released over N2 billion to off-set its pensioners’ obligation under the Contributory Pension Scheme (CPS) in the last three months. Mrs Folashade Onanuga, Director-General, Lagos State Pension Commission (LASPEC), said that the figure represented pension monies released for the months of May, June and July. According to her, N859 million was released for the retirees in May, N716.951 million in June and N466.85 million in July, totalling N2.042.86 billion.

The director-general said that N38 billion had so far been released to 9,214 retirees as at June this year since Gov. Akinwunmi Ambode assumed office in 2015. Onanuga said in a statement that over N40 million was also paid out as insurance benefits to 15 beneficiaries of deceased employees. She, however, said that the state employees were expected to open a Retirement Saving Account (RSA) with one of the state’s approved 13 Pension Fund Administrators.

Source: Businessday.ng

Premium Members

Access
    Bank Plc Logo Boston
       Consulting Group Logo British Airways Logo Custodian Plc Logo Fidelity Bank Logo First Bank of Nigeria Plc Logo PriceWaterCoopers Logo Standard Chartered Bank Plc Logo UTL
    Trustees Logo Wema Bank
    Plc Logo

Media Partners