Ambode to employers: Pay retirement benefits

By Fredrick Okopie

LAGOS—The Lagos State Government said it is morally wrong for any employer to neglect or refuse to plan and cater for the retirement benefits of its employees who have given the prime of their active years to the employing institution.


Mr. Akinwumi Ambode, spoke at the Public Lecture, Award 2017 and Launching of 6th Edition Pensionscope Magazine, the the theme: “Government Policy As It Affects Various Investment Option Of Pension And Insurance Fund in Nigeria.”

Governor Ambode, who received an award of Excellence On Pension Matters, was represented by the State Commissioner of Establishments, Training and Pensions, Dr. Akintola Oke, said: ”The Lagos State Government has faithfully honoured its obligation under the law through the Lagos State Pension Commission, LASPEC, which was established as a corporate entity to regulate, supervise and ensure the effective administration of pension matters in the Lagos State Public Service.”

Dr. Oke reiterated that the State Governmemt has never failed to remit monthly contributions to Retirement Savings Account, RSA, of workers and as at last March, about N78,592bn had been credited into employees RSA maintained by ten Pension Fund Administrators.

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Simplicity….. The true mark of Genius

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