Lagos To Train Workers In Pension Scheme

Lagos To Train Workers In Pension Scheme

The Director-General, Lagos State Pension Commission, Mr. Rotimi Hussain, has said workers who will retire from the public service in the first half of this year will receive training and guidance on life after retirement before leaving the service.

In a statement from the Press and Public Relations Officer, LASPEC, Mr. Taofeek Lawal, the director-general said over 1,000 prospective retirees would be trained at a pre-retirement seminar that would hold soon.

According to the director-general, the seminar, which is the third of its kind, is being organised by LASPEC in conjunction with the state-approved Pension Fund Administrators.

Hussain said the seminar was designed to help future retirees to adequately prepare for their physical, emotional and financial well-being in retirement.

He stressed that the seminar would explain the procedure for processing of their accrued pension rights under the Pay-As-You-Go scheme, which was discontinued in March 2007.

It will also enlighten them on steps towards ensuring that their Retirement Savings Accounts are up to date with the payment of their contributions, as well as highlighting the exit options under the Contributory Pension Scheme

Hussain added that the seminar would also cover tips on healthy living at retirement and how retirees could make good investment decisions.

While appreciating the PFAs for sponsoring the seminar, he promised that LASPEC would continue to collaborate with all the stakeholders in the pension industry with a view to achieving higher standards of service for workers in the Lagos State public service.

The PFAs sponsoring the seminar include Stanbic IBTC Pension Managers, Crusader Sterling Pension Plc, Leadway Pensure, ARM Pensions, NLPC Pension Fund Administrators Limited and Trustfund Pensions Plc.

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