Relief for LASG workers, to get gratuity 3 months after retirement
Workers with the Lagos State government will begin to get due payments in little time compared to what was obtainable before, the Director-General of the Lagos State Pension Commission, Mrs. Folashade Onanuga has said.
According to Onanuga, retirees will begin to get their gratuity benefits in as little as three months after retirement.
She said this is because a new regime which would put things in place would soon be inaugurated.
“The Lagos State Government is working towards a three-month gratuity collection regime,” Onanuga said.
“We are working towards a regime that all pensioners will be able to access their gratuities within three months after retirement.”
The DG also said Governor Ambode’s government has cleared the backlog of pensions being owed pensioners.
“The state Governor, Akinwunmi 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 the Defined Benefit Scheme before the Contributory Pension Scheme was introduced in 2004,” she said.
“He has cleared the pension backlog up till 2015.
“About N37bn has been released for 9,045 retirees since he assumed office.”
Onanuga urged workers in the state to study the options available – Programmed Withdrawal and Annuity – before making vital decisions.
“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,” she said.
She 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.
“The Lagos State Government approved 13 PFAs for its workers, which they could check out before making their decision,” she added.
