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Ambode fulfills pension promise

By Fredrick Okopie

Lagos State government says it has paid regular deductions of 7.5 percent of monthly basic salary, rent and housing allowance from the salaries of the staff and corresponding 7.5 percent by the State Government into the Retirement Saving Accounts maintained by them with their appointed Pension Fund Administrations, PFAs.

Commissioner of Establishments, Pension and Training, Dr. Akintola-Oke, said, in a ministerial briefing that the remittance had been achieved due to automation of the payroll which ensures deductions/remittances of pension contribution, from May, 2017 till date, by employee and that of the employer credited into Retirement Savings Accounts was 9 Billion Naira.

Akinwunmi Ambode

“The Terminal entitlements of retirees paid bt the Lagos State Government through Lagos State Pension Commission, LASPEC into the RSA of 2,446 public servant retirees with the last one year May 2017 to March 2018 was over 9.1 billion Naira and the Mr. Akinwunmi Ambode administration commenced and has been able to maintain the trend of paying terminal entitlement of retired employees monthly since it started in August, 2015”, Akintola-Oke said.

The post Ambode fulfills pension promise appeared first on Vanguard News.

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This post was syndicated from Vanguard News. Click here to read the full text on the original website.

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