LASG’s Workers To Get Gratuity 3 Months After Retirement Soon

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AMBODE CONGRATULATES EX-IG, SMITH’S CONFIRMATION AS CHAIRMAN POLICE SERVICE COMMISSION
AMBODE CONGRATULATES EX-IG, SMITH’S CONFIRMATION AS CHAIRMAN POLICE SERVICE COMMISSION

The Lagos State Government is to introduce an efficient pension scheme for its workforce , an official said on Sunday.

Under the new regime, retirees will be paid their gratuity ( lump sum) within three months after retirement .

The Director -General , Lagos State Pension Commission ( LASPEC ) , Mrs Folashade Onanuga , told the News Agency of Nigeria ( NAN ) that the administration would soon unveil the new regime .

“Gov . Akinwunmi Ambode is working towards a three – month gratuity collection regime.

“Our amiable governor is working towards a regime that all pensioners will be able to access their gratuities within three months after retirement ,” she said .

Onanuga also said that the governor was committed to the welfare of retirees as he had cleared the backlog of pensions .

She said : “ Gov . Ambode is fully committed to retirees’ welfare as he is working towards clearing pension backlog the administration inherited under the old pension scheme known as Defined Benefit Scheme ( DBS) before the Contributory Pension Scheme ( CPS ) was introduced in 2004 .

“He has cleared the pension backlog up till 2015.

“About N 37 billion has been released by Gov . Ambode for 9, 045 retirees since he assumed office .

The director – general , however , has advised retiring workers in the employ of the state government to study the two options available to them at retirement carefully before taking decisions.

According to her , the two options are Programmed Withdrawal and Annuity.

“The retirement options should be studied carefully before signing any deal with Pension Fund Administrators ( PFAs ) .’’

Onanuga , who described some PFAs as hookwinkers , said they had been deceiving retiring employees into taking wrong decision for their own selfish reasons .

“There are still pension ` fraudsters ’ parading themselves as PFAs and the Lagos State Government will put concrete measures in place to ensure that its retirees do not fall victims .

“It is important to note that pension fraudsters are still out there , retirees must be vigilant and courageous not to sign negative deals; be wise ,’’ Onanuga warned .

According to her , the commission in order to guide prospective retirees in the state public service between July and December also held a seminar on retirement benefits and documentation on June 8 .

“The commission ensured that the 1,200 workers slated for retirement between July and December participated .

“The prospective retirees were equipped with retirement features and healthy lifestyles in retirement among others. ”

Onanuga emphasised that it was the responsibility of the prospective retirees to study and master the features .

She said , for instance , a retiring employee ought to have signed up a PFA and his or her monthly contributions remitted into his or her Retirement Saving Account ( RSA ) .

“Lagos State Government approved 13 PFAs for its workers , among them are AIICO Pension Managers , ARM Pensions, Leadway Pensure PFA and Nigerian Life and Provident Company ( NLPC ) .’’

Source: NAN

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