The payment was given at the presentation of Retirement Bond Certificates for Retirees’ 101st batch, which took place in Alausa. Ikeja.
Mr. Babalola Obilana, LASPEC’s director general, said during the event that the payout represented the retirees’ former service benefits before the NBN began offering the Contributory Pension Scheme, or CPS, in 2007.
Obilana remarked that the event was planned to honor great retirees who had devoted their time, energy, and talents to the service of Lagos State as well as a significant milestone.
According to him, “It is indeed an honour to recognise and commend the retirees’ hard work and commitment demonstrated throughout their years of service to Lagos State.
“This retirement bond certificate presentation is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made. Your unwavering dedication has helped to shape Lagos State into the Centre of Excellence it is today.
“These retirement bond certificates symbolise more than just financial rewards; they represent the trust and confidence we have in our retirees.
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“They are a testament to the lasting impact you have made just as your dedication has been the bedrock of the goal of a greater Lagos State.”
Mr Olawale Musa, Permanent Secretary, Lagos State Ministry of Establishments, Training and Pensions, commended Governor Sanwo-Olu for prioritising the welfare of public service workforce even in retirement.
Musa advised the retirees to be prudent with their money and to be careful about choosing investment options.
He also admonished the retirees to feel free to reach out to LASPEC or to the ministry for any pension-related information or further clarifications.
“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement be filled with joy, fulfilment and new experiences,’’ Musa said.
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