Governor Babajide Sanwo-Olu of Lagos State has approved a pay rise for state pensioners tagged "consequential adjustment in pensions" in line with the subsisting national minimum wage.
This was contained in a circular released by the state Head of Service, Bode Agoro, to State Executive members, the state House of Assembly, Ministries, Departments, Agencies, MDAs, and relevant officers of the state.
The memo dated, 15, January 2024, titled: Payment of consequential adjustment in pensions, read in part: "As part of the present Administration's unrelenting commitment to the welfare of its Pensioners, it is hereby notified for general information that Mr.
Governor, Babajide Sanwo-Olu has graciously approved the payment of Consequential Adjustment in Pensions arising from the implementation of the National Minimum Wage of 2019 for Pensioners under the Defined Benefit Scheme in the Lagos State Public Service with effect from January 2024.
'This adjustment entails the application of various percentage increments following the categories of pensioners.
"Accordingly, all Accounting Officers are enjoined to note the contents of this circular for information and give it deserved service."
The range of pension shows: the lowest pensioner on the payroll of N15, 974.33, gets a 59 percent increase in pension, while the highest pensioner on the pay roll of N113, 729.20 -N173, 108.71 gets a nine percent increase in pension.
