By Olasunkanmi Akoni

Lagos State government has paid its 6,441 retirees N33.5 billion through the Contributory Pension Scheme, CPS.

Director-General, Lagos State Pension Commission, LASPEC, Mr. Rotimi Hussain, who disclosed this during the 17th Retirement Bond Certificate presentation ceremony where another set of 296 retirees were presented with bond certificates worth N1.36 billion, said the commission was confident that the new government in the state would not relent at ensuring employer-employee contributions were remitted regularly.

The N1.36 billion bond certificates were the retirees’ past service benefits, prior to the commencement of the Contributory Pension Scheme in April 2007.

He said: “We are confident that the administration of Mr. Akinwunmi Ambode and Dr. Idiat Adebule would not relent on efforts at ensuring that employer/employee joint contributions are remitted regularly and every worker who serves the state government continues to enjoy the best of pension services in our tradition of excellence.”

He said 17th bond certificate presentation ceremony was marked without the usual fanfare, adding that the process started on May 19 and ended two days later.

Hussain said the retirees with Stanbic IBTC Pension Fund Administrator had been presented with their bond certificates, while those with Trustfund, ARM, NLPC and Leadway Pensure got theirs earlier.