Addressing the retirees at the 40th Retirement Benefit Bond Certificate Presentation in Lagos, the Director-General- LASPEC, Folashade Onanuga, gave the retirees, His Excellency’s goodwill message stated that the retirees having contributed their quota to the development of Lagos State deserve to be treated like elder-statesmen with right to receive their pension early as active workers also receive their salaries on time. She implored the beneficiaries to be gentle with life. “Maintain a low profile, eat healthy and exercise well as this is what your body needs. Let moderation be your watchword”, she said.
She also explained that even though there is two options available for receipt of monthly Pension entitlements i.e. the Programmed Withdrawal and life annuity options, not many insurance companies have received PENCOM’s nod to transact Annuity business. However, Lead-way Assurance plc, FBN Insurance Custodian Life and ARM life have gotten approval. Only Lead-way assurance & ARM life are for now given approval to provide Annuity services for Lagos State Government retirees.
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