RismadarVoice Reporters, August 25, 2026
The Lagos State Government has reaffirmed its commitment to the welfare and financial security of retired public and civil servants, highlighting sustained investments and reforms in pension administration under the administration of Governor Babajide Sanwo-Olu and Deputy Governor Kadri Obafemi Hamzat.
The Lagos State Pension Commission (LASPEC) said the state has paid a total of N168.2 billion to more than 48,000 retirees under the Contributory Pension Scheme (CPS) since 2007.
According to LASPEC, the government has also disbursed N92 billion in accrued rights to over 25,000 retirees since May 2019, covering both gratuity and pension obligations.
As part of efforts to strengthen workers’ retirement benefits, the administration increased pension contribution rates in 2020 to 10 per cent for employers and 8 per cent for employees, aimed at improving the funds available to workers upon retirement.
The government also said it had intensified efforts to clear outstanding pension obligations, culminating in a N5 billion payment to 1,963 retirees in July 2024, which it described as clearing the backlog of accrued rights under the CPS at the time.
For retirees facing health challenges, the state introduced an expedited gratuity payment policy to provide immediate financial relief, while pension components continue to be paid into retirees’ Retirement Savings Accounts in line with established procedures.
The government also conducts bi-annual welfare programmes for retirees to cushion the impact of rising living costs.
Under the Defined Benefits Scheme, more than 10,000 retirees received the N25,000 wage award between December 2023 and February 2024. This was followed by increases of 20 per cent and 28 per cent in March 2025.
In May 2026, the state government also approved a N32,000 wage increase for its DBS retirees, matching the Federal Government’s intervention for pensioners and pushing the state’s pension wage bill up by more than 100 per cent.
LASPEC further disclosed that it has paid over N4 billion to 1,862 retirees so far in 2026, with another N1 billion earmarked for 700 additional retirees within the following week.
The government said the interventions across both the Contributory Pension Scheme and Defined Benefits Scheme demonstrate its continued commitment to protecting the dignity and welfare of Lagos State retirees.
