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Lagos Approves 33% Increase In Pension For State Pensioners

The Lagos State Governor, Babajide Sanwo-Olu, has approved a 33% increase for all state pensioners under the Defined Benefits Scheme (Pay as You Go) with effect from January 1, 2020.

He has also approved the payment of a balance of 25% rent allowance for officers on Grade Level 07 and above, whose retirement took place between May 2000 and August 2004.

The disclosure was made by the Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, during a recent meeting with the members of the Nigeria Union of Pensioners.

She affirmed that both the increase and payment of the arrears would take effect from September 2020, in a bid to meet up with the harmonization exercise for the pensioners. She noted that since Sanwo-Olu’s assumption of office, he has paid a total sum of N1.893 billion to pensioners under the Defined Benefit Scheme, while also adding that all monthly pensions are paid as at when due without exception.

The commissioner maintained that all retirement bond certificates for June 2020 had been released to the Pension Fund Administrators for onward transmission to beneficiaries. She reiterated that Lagos State Government is determined to ensure that pensioners’ rights are paid promptly, while beneficiaries will continue to enjoy the dividends of democracy in the state.

Ponnle emphasized that the present administration is passionate about retirees’ welfare and will continue to acknowledge their service to the state, hence the reason for the approval which is also geared towards cushioning the effects of the pandemic.

The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has approved a 33% increment for all State Pensioners under the Defined Benefits Scheme (PAY AS YOU GO) with effect from the 1st January, 2020.@jidesanwoolu @lagosestab @jibolap#LASG #ForAGreaterLagos pic.twitter.com/tiWF152X4h

— The Lagos State Govt (@followlasg) September 8, 2020

Source:- Naira metrics



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