Governor Babajide Sanwo-Olu of Lagos State recently advised retirees against using their pensions on religious pledges and grown children.
Speaking at the 105th batch retirement bond certificate presentation ceremony, which was held on Thursday, July 4th, 2024, Governor Sanwo-Olu emphasised that retirees should prioritize addressing their own family needs with their pension funds.
He underscored the government’s steadfast commitment to supporting retirees through pension payments, stressing that these funds are earned through years of hard work and should be utilized wisely for personal welfare.
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Governor Sanwo-Olu also announced the implementation of a new Pension Administration system known as ‘Pay-As-You-Go,’ ensuring timely payments to retirees upon completion of all necessary procedures and approvals before retirement.
He said, ”This is not meant to solve all family problems. It is about you, what you have earned and worked for.
“When they say they want to build a church or mosque and ask you to come out to pledge N3m, don’t do that. God will give you the wisdom to act, Sanwo-Olu has done his part.
“Today, we mark the 105th Retirement Bond Certificate presentation, a historic milestone as we transition into a new era of Pension Administration called ‘Pay-As You-Go’.
“From now on, all retirees of the state government will be paid as they retire, provided all procedures and approvals have been completed before retirement.”
