LASG urges early retirement planning, accurate pension records

The Lagos State Government has urged public servants to regularly update their records under the Contributory Pension Scheme to ensure the seamless processing and prompt payment of retirement benefits.

The Head of Service, Bode Agoro, made the call during a sensitisation programme on the Contributory Pension Scheme organised by the Lagos State Pension Commission for public servants at the Adeyemi-Bero Auditorium in Alausa, Ikeja.

Agoro, represented by the Permanent Secretary, Public Service Office, Olasunkanmi Oyegbola, said the programme was designed to improve workers’ understanding of the pension scheme and to provide updates on policies and procedures governing retirement benefits.

He said the exercise also offered public servants an opportunity to update their records with LASPEC and their Pension Fund Administrators, noting that accurate, up-to-date information was essential for the smooth processing of retirement benefits.

Agoro urged workers to obtain pension-related information only from approved sources to avoid challenges during retirement and encouraged them to use the presence of Pension Fund Administrators at the event to review and update their records.

He also advised public servants to ensure changes in their personal and employment details are reflected throughout their years of service, assuring them of the government’s commitment to making retirement benefit administration more efficient.

In his welcome address, the Director-General of LASPEC, Babalola Obilana, said the Contributory Pension Scheme was established to guarantee financial security for workers after retirement through a transparent and sustainable pension system

Obilana stressed that retirement planning should begin early in a worker’s career rather than a few months before leaving service, adding that regular updates of personal and employment records are critical to a seamless retirement process.

He said the sensitisation programme was designed to educate participants on retirement documentation, benefit processing procedures, statutory requirements and the responsibilities of stakeholders under the pension scheme.

According to him, the programme also addressed common mistakes that delay the payment of retirement benefits and provided practical guidance to help workers transition smoothly from active service to retirement.

Obilana said pension administrators and other experts were available to educate participants on their rights and obligations under the Contributory Pension Scheme, urging them to actively engage in discussions and seek clarification on retirement-related issues.

He reaffirmed the Lagos State Government’s commitment to improving pension administration, promoting compliance with the scheme and ensuring retirees receive their benefits promptly and efficiently.

The LASPEC director-general also encouraged participants to share the knowledge gained with colleagues in their respective ministries, departments and agencies to promote better retirement planning across the public service.