Lagos State Government has disbursed N21, 375,333,764.77 so far, into the Retirement Savings Accounts, RSAs, of 3,884 state retirees under the Contributory Pension Scheme.
The Director-General, Lagos State Pension Commission, Mr. Rotimi Adekunle Hussain, disclosed yesterday, at the presentation of Retirement Bond Certificates to the second tranche of the 9th batch of 580 employees who recently retired from the state public service. Hussain, who said that the state government had been steadfast in its commitment at sustaining full implementation of Contributory Pension Scheme even beyond the present administration, noted that solid and well defined structures had been put in place to ensure that the statutory 5 percent contribution that goes into the Redemption Fund Account created for the purpose of redeeming the Retirement Bonds which showed the accrued pension rights for years spent in service prior to the commencement of the Contributory Pension Scheme is sustained.
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