A 33% increase for all state pensioners under the Defined Benefits Scheme (Pay as You Go) has been approved by the Lagos State Governor, Babajide Sanwo-Olu, with effect from January 1, 2020.
He has also approved the payment of a balance of 25% rent allowance for officers on Grade Level 07 and above, whose retirement took place between May 2000 and August 2004.
This was made known by the Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, during a recent meeting with the members of the Nigeria Union of Pensioners.
She maintained that both the increase and payment of the arrears would take effect from September 2020, in a bid to meet up with the harmonization exercise for the pensioners. She noted that since Sanwo-Olu’s assumption of office, he has paid a total sum of N1.893 billion to pensioners under the Defined Benefit Scheme, while also adding that all monthly pensions are paid as at when due without exception.
Photo source: Nairametrics