Lagos Pension Board Urges Retirees: Embrace a New Life

The Director-General of the Lagos State Pension Commission, Babalola Obilana, has encouraged future retirees from the public sector in Lagos to focus on improving their understanding of personal finance, remain actively involved, and keep an optimistic perspective as they transition into retirement.

On Friday, addressing the 28th Retirement Benefits Workshop at the Adeyemi Bero Hall in Alausa, Ikeja, Obilana stated that retirement ought not to be viewed as an endpoint but rather “the start of something new.” He encouraged government employees to make prudent plans, collaborate closely with their Pension Fund Administrators, and seize potential opportunities during their later years.

“This seminar goes beyond mere paperwork. It’s about getting ready mentally, emotionally, and financially for a fresh beginning. A lot of you may venture into starting your own ventures, guiding emerging talents, or pursuing new interests. Retirement isn’t about stepping back—it’s about redirecting your path,” he stated.

He pointed out that the forum was designed to streamline the paperwork involved, ensure adherence to the Contributory Pension Scheme regulations, and assist retiring officers in obtaining their entitlements promptly.

The participants went through document verification processes, explored various retirement choices, engaged with Pension Fund Administrators and Annuity providers, along with learning about changes in their lifestyles after retiring.

The head of LASPEC commended Governor Babajide Sanwo-Olu’s administration for always placing emphasis on the well-being of retirees. They stated that Lagos continues to lead in pension management, known for timely payments and effective benefit distribution.

In his goodwill message earlier, the Head of Service, Mr Bode Agoro, who was represented by the Permanent Secretary of the Public Service Office, Mrs Olasukanmi Oyebola, stated that the seminar aims to recognize the contributions made by the state’s employees and guarantee they have a smooth transition into retirement. This initiative is seen as one of several steps taken by the government towards this end.

The impact of your work as public officials will resonate for many years,” Agoro stated. “This seminar serves as our gratitude and aims to assist you in embarking on your subsequent stage with assurance.

He encouraged retirees to actively participate in the sessions and ask for explanations whenever needed, noting that the state’s organizations stay accessible and dedicated to helping them.

The gathering brought together major players from the pensions industry, such as Pension Fund Administrators, Annuity providers, along with legal and financial specialists. These participants interacted with retirees via moderated panels and interactive Q&A sessions.

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