Lagos prepares 1560 workers for retirement

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Sanwo-Olu, Governor Lagos state

Lagos State Government has prepared 1560 staff members drawn from the Public Service, parastatals and local government due to retire between January and June 2020 for life after work, the Director General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, has said.

She spoke during a seminar for the workers aimed at preparing them for retirement and how to achieve easy access to their benefits.

She disclosed that the commission is expecting a total of about 1620 to retire.

She stated that workers were educated on documents and other paper work they would need to provide to the commission.

She said this would enable the commission to have the information of the prospective retirees, while they process the funds in their Retirement Savings Account (RSA).

She urged the workers to learn all the steps they needed to live a good life after they quit government’s work.

Mrs Onanuga said: “The issue of retirees’ health is key as well as the issue of finances. The need for them to begin writing a will is very germane because in the dispensation, if you are going through the programme withdrawal mode, there is no way you can access your RSA if a death occurs without a letter of administration.

“So, this meeting is to make the prospective retirees have in-depth information, which is very crucial to giving them a beautiful life after retirement. The process involves us alerting and preparing the state directors that these people will retire soon and their funds should be available. We want to ensure that when anybody retires from Lagos, their entitlement is paid on time.’’

She said the seminar also afforded workers to recapture their data with their Pension Fund Administrators (PFAs) as mandated by the National Pension Commission on data recapturing.

Without this data recapture the workers could not have access to their RSA when they retire, she noted