The Lagos State Government has responded to protests raised by pensioners, restating actions that have been made to ensure its commitment to the welfare of retired public servants and mentioning payments made under the Contributory Pension Scheme (CPS).
The government said the Lagos State Pension Commission (LASPEC) has paid N168.2 billion to over 48,000 retirees from 2007 to date.
It also disclosed that N92 billion in accrued rights had been disbursed to more than 25,000 retirees across the state since May 2019.
According to the government, accrued rights comprise both gratuity and pension components owed to retiring public servants, adding that the administration has prioritised the prompt payment of both.
The government further noted that pension contribution rates were increased in 2020 to 10 per cent for employers and 8 per cent for employees, as part of efforts to improve retirement benefits.
According to the current Lagos State administration, in July 2024, the state released N5 billion to 1,963 retirees, which it said cleared the outstanding backlog of pension obligations under the CPS.
The government maintained that the measures demonstrate the Sanwo-Olu administration’s commitment to improving the welfare of Lagos retirees.