Lagos State Governor, Babajide Sanwo-Olu has approved a 33% increment for all State Pensioners under the Defined Benefits Scheme (PAY AS YOU GO).
This was announced in a statement by his Chief Press Secretary, Gboyega Akosile via his Twitter handle on Thursday.
According to the statement, the increment will take effect from the 1st January, 2021.
The statement read: “Just as he also approved the payment of a balance of 25% rent allowance for officers on GL 07 and above who had retired from May 2000 to August 2004.
“The Honourable Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, disclosed this during a recent meeting with the members of the Nigeria Union of Pensioners.
“She affirmed that both the increment and payment of the arrears will take effect from September, 2020, in a bid to meet up with the harmonisation exercise for the pensioners.
“She stated that Governor Sanwo-Olu, since his assumption of Office, has paid a total sum of ₦1.893Billion to Pensioners under the Defined Benefit Scheme, adding that all monthly pensions are paid as at when due without exception.
“She maintained that all retirement bond certificates for June 2020 have been released to the Pension Fund Administrators for onward transmission to beneficiaries.
“Ponnle reiterated that the government is determined to ensure that pensioners’ rights are paid promptly while beneficiaries will continue to enjoy the dividends of democracy in the State.
“The Commissioner emphasised that the present administration is passionate about retirees’ welfare and will continue to acknowledge their service to the State, hence the reason for the approval which is also geared towards cushioning the effects of the pandemic.”