The Lagos State Government has disclosed that it has paid N168.2 billion to more than 48,000 retirees under the Contributory Pension Scheme (CPS) since 2007.
The government made this known in a Facebook post on Tuesday while responding to concerns raised by some protesting retirees over pension payments in the state.
According to the state, the Lagos State Pension Commission (LASPEC) has disbursed the funds to retirees under the CPS since the scheme was introduced.
The government also said N92 billion had been paid as accrued rights to more than 25,000 retirees between May 2019 and Tuesday.
It explained that accrued rights comprise both the gratuity and pension components owed to retiring public officers, adding that the administration had prioritised the settlement of both obligations.
The state said it increased pension contribution rates in 2020 to 10 per cent for employers and eight per cent for employees as part of efforts to strengthen the pension scheme.
It also highlighted a N5 billion payment made to 1,963 retirees in July 2024, describing the disbursement as a landmark intervention that cleared outstanding pension backlogs under the CPS.
The government said it had also introduced expedited gratuity payments for sick pensioners, while the pension component continued to be paid into their Retirement Savings Accounts.
It added that welfare programmes were organised twice yearly to provide additional support to retirees amid rising living costs.
For retirees under the Defined Benefits Scheme (DBS), the government said it extended the N25,000 wage award granted to serving state employees to more than 10,000 DBS retirees between December 2023 and February 2024.
This was followed by further pension increases of 20 per cent and 28 per cent in March 2025.
The state added that in May 2026, it matched the Federal Government’s N32,000 pension wage award for its DBS retirees.
According to the government, the various interventions had increased the pension wage bill by more than 100 per cent.
The government further disclosed that LASPEC had paid more than N4 billion to 1,862 retirees in 2026, with another N1 billion expected to be disbursed to 700 retirees within the following week.
It said the measures demonstrated the Sanwo-Olu administration’s commitment to improving the welfare of retired public servants in Lagos State.
