Business
Pension: ‘LASG Pays N80bn Into RSA In 10 Years’
Lagos State Government (LASG) says it has paid more than N80 billion into the Retirement Savings Accounts (RSA) of its retirees since the commencement of the Contributory Pension Scheme (CPS) in 2007.
The Lagos State Pension Commission (LASPEC) said this in a statement in Lagos by its Head of Public Affairs Unit, Mrs Basirat Lawal, last Thursday.
“As at September, 2017, LASG paid more than N80 billion into the Retirement Savings Accounts (RSA) of its retirees since the commencement of the Contributory Pension Scheme (CPS) in 2007,’’ she said.
The commission said the state government had also disbursed N710 million as pension to 153 retirees in October and paid accrued pension rights of N31.822 billion to 7,677 retirees from August 2015 till date.
“This is aside the mandatory 15 per cent contributions which the government remits monthly into the Retirement Savings Account (RSA) of the retirees.”
Lawal quoted the Director-General of LASPEC, Mrs Folashade Onanuga, as saying that Ambode’s administration would continue to boost the socio-economic well-being of citizens, in spite the over N200 billion pension liabilities on the state.
She said that Onanuga, however, advised pensioners to be wary of pension fraudsters, take very good care of their health and desist from spending on frivolities.
“Retirees must always collect their statement of accounts from their Pension Fund Administrators (PFAs) for monitoring.
“There is also need to create Oracle HR application field for Additional Voluntary Contributions (AVC).
“The funds are invested and can be accessed immediately by a retiree on retirement.’’
Onanuga said more innovations had been introduced into the state pension’s Information Communication Technology (ICT) infrastructure to ensure that pension operations were flawless and less cumbersome.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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