N4.46bn:Don’t Donate Your Pensions Money to Church, Mosque, Sanwo-Olu Tells Retirees
He further stated that since assuming office, his administration has paid a total of over ₦68 billion into the Retirement Savings Accounts of retirees across various government departments.
He added that the “Pay As You Go” pension model utilised by the state will ensure that future retirees receive their full benefits and gratuity immediately upon retirement.
Sanwo-Olu added, “Since the inception of this administration, we have paid a sum of ₦68,164,627,407.21 into the Retirement Savings Accounts of retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other Parastatals of the State Government. We are very happy with this achievement.
“Employees of the Lagos State Government who retire from the civil service will now get their full pension benefits and gratuity immediately after retirement as Lagos State continues to lead in pension benefits administration with a Pay As You Go template.”
In his statement, Sanwo-Olu stated that to further enhance their well-being, the state launched a new Health Insurance Scheme specifically designed for retirees.
“We also launched a Health Insurance Scheme tailored specifically for our retirees. This scheme will provide access to a wide range of medical services, from routine check-ups to specialised treatments,” he added.
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