Saturday, January 16, 2021
  • About
  • Advertise
  • Careers
  • Contact
Pension Changes
  • Home
  • Government Policy
  • Pension Changes
  • Pension Information
  • Pension Rights
  • Retirement Pension
No Result
View All Result
Pension Changes
Home Pension Rights

259 retirees get over N1bn benefits in Lagos – Punch Newspapers

August 17, 2020
in Pension Rights
259 retirees get over N1bn benefits in Lagos – Punch Newspapers
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

 Nike Popoola

The Lagos State Government says it has remitted N1.13bn as accrued pension rights in favour of 259 retirees for July 2020.

The Director-General, Lagos State Pension Commission Mr Babalola Obilana, disclosed this during a meeting with Pension Fund Administrators and insurance companies at Alausa, Ikeja, according to a statement on Friday entitled ‘LASPEC pays over N1bn retirement benefit bonds for 259 retirees.’

Obilana said from the inception of the Contributory Pensions Scheme, the state government had complied with the financial obligations of the scheme in relation to the monthly funding of the Retirement Savings Accounts of employees, and the payment of death benefits to the next of kin of employees who died while in active service.

He said he was optimistic that the Lagos State Governor, Babajide Sanwo-Olu, in spite of the financial challenges, would not renege on his promise to remit accrued pension rights into the RSA on monthly basis because of his commitment to the welfare of the state’s workforce, both serving and retired.

Obilana promised to monitor the monthly payments by all parastatals of the state government through compliance inspection exercise, with a view to ensuring that monthly deductions from employees’ salaries and employers’ contributions are remitted into the respective RSAs of the employees.

While imploring the pension service providers to improve on their service delivery to retirees at all times, the director-general urged them to always ensure prompt payment of retirement bond certificates released to them for retirees monthly.

  Copyright PUNCH.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: [email protected]

DOWNLOAD THE PUNCH NEWS APP NOW ON


— to punchng.com

Related posts

Law, Practice and Precedents (8th Edition)

Law, Practice and Precedents (8th Edition)

January 15, 2021
Guest comment: Credit where it’s due

Guest comment: Credit where it’s due

January 15, 2021
Previous Post

It Is Time People ‘Got Up Off Their Backsides’ To Save RTE

Next Post

Innovative pension risk transfer approach offers Prudential clients a new way to wind down plans

Next Post
Innovative pension risk transfer approach offers Prudential clients a new way to wind down plans

Innovative pension risk transfer approach offers Prudential clients a new way to wind down plans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

EU staff don’t lose their pensions for criticising the EU

EU staff don’t lose their pensions for criticising the EU

10 months ago
‘Don’t ditch your pension for short-term hardship help’ says former minister

‘Don’t ditch your pension for short-term hardship help’ says former minister

9 months ago
Police Professional | Police Federation launches ‘group action’ compensation claim against the Government

Police Professional | Police Federation launches ‘group action’ compensation claim against the Government

8 months ago
Restarting Europe post-Covid | Green World

Restarting Europe post-Covid | Green World

7 months ago

FOLLOW US

  • 79 Followers
  • 27.6k Followers
  • 40.7k Subscribers

BROWSE BY CATEGORIES

  • Government Pension Policy
  • Pension Changes
  • Pension Information
  • Pension Policy
  • Pension Rights
  • Retirement Pension
  • Uncategorized

BROWSE BY TOPICS

2021 2021 Pensions auto-enrolment age 18 auto enrolment pension contributions 2021/22 auto enrolment rates 2020/21 auto enrolment rates 2021/22 cashing in pension at 55 cashing in pension calculator cashing in small pension pots CCP retirement check my state pension Disabled pensions drawdown employer pension contributions 2021/22 government policy examples uk list of government policies uk minimum pension contributions 2021 minimum pension contributions 2022 new state pension Pension age pension issues pension ombudsman pension plan pension regulator Pensions Advisory Service Pensions Brexit pension scheme uk Pensions outlook retirement 2 million scams scheme funding Single mothers pensions State Pension State Pension age state pension changes state pension forecast State Pensions State triple lock taking pension at 55 the pensions regulator Therese Coffey uk pension age UK State Pension uk state pension age what is government policy uk

POPULAR NEWS

  • Multiemployer pension reform not happening this year

    Multiemployer pension reform not happening this year

    5 shares
    Share 0 Tweet 0
  • Exit payment cap: Implications for the LGPS

    0 shares
    Share 0 Tweet 0
  • Public Service Pensions Update | October 2020

    0 shares
    Share 0 Tweet 0
  • NEST: More than a pension | Country Report

    0 shares
    Share 0 Tweet 0
  • Builders were not self-employed, rules employment tribunal

    0 shares
    Share 0 Tweet 0

Follow us on social media:

Recent News

  • Law, Practice and Precedents (8th Edition)
  • State pension payments can be received while working – will more tax need to be paid?
  • What is the average UK retirement income?

Category

  • Government Pension Policy
  • Pension Changes
  • Pension Information
  • Pension Policy
  • Pension Rights
  • Retirement Pension
  • Uncategorized

Recent News

Law, Practice and Precedents (8th Edition)

Law, Practice and Precedents (8th Edition)

January 15, 2021

State pension payments can be received while working – will more tax need to be paid?

January 15, 2021
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Please contact us on partnership@pensionchanges.co.uk if you would like to reach our audience.

No Result
View All Result
  • Home

© 2020 Please contact us on partnership@pensionchanges.co.uk if you would like to reach our audience.