By Araba, Olawale Enifenilanfe:

Lagos State Pension Commission (LASPEC) under the leadership of the Director-General, Babalola Obilana has organised Three (3) Day Sensitization Programme on Contributory Pension Scheme (CPS) for Ikorodu local Government and LCDAs among the 20 local governments across Lagos State. The programme was focused on providing vital information to public servants with the necessary documentation for processing their retirement benefits and to orientate the employees about the effective administration of pension matters in the Lagos State Public Service.

These Three (3) Days Sensitization Programme commenced on Tuesday, December 3rd, 2024 with the motion to welcome the employees as well as to enlighten the staff about the Lagos State Contributory Pension Scheme law that was established in 2007 by the State Government as a corporate entity to regulate, supervise and ensure the effective administration of pension matters.

The Second Day which was on Wednesday, December 4th, 2024 was strictly focused on guiding the employees on the importance of pension firms while Day Three (3) was focused on engaging on affiliating their pension firm with Contributory Pension Scheme (CPS) for proper preparation and follow up of their remittances ahead of the Staff retirement.

The CPS pension scheme is contributory for the employees. The employer contributes and the organisation will also make contributions. Deductions will be made from their salaries and the Government/Parastatals.

The CPS pension helps employees maintain their standard of living in retirement, and savings provide important supplemental income for unforeseen expenses.

The participants appreciate the State Government’s impact towards ensuring future assurance of their retirements.

LaRoyal Global CommunityNews:
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