Home / Responsibilities:Lagos State Pension Commission,LASPEC

Responsibilities:Lagos State Pension Commission,LASPEC

  • To assist all persons in the employment of the State Government to save towards their retirement.
  • To ensure that persons who leave or retire from the Public Service of the State receive their terminal or retirement benefits as and when due.
  • To establish a set of rules and regulations for the administration and payment of retirement benefits in the Public Service of the State.

The law also established the group life policy for death benefits of employees, whilst in service, as well as the Retirement Bond for employees with past service benefits and the Redemption Fund from which the liability of the bond payment would be made.

Structure of the Commission

Structure of the Commission
The Law provides that there shall be 4 (four) specialized divisions in the Commission. These are:
1. Technical
2. Administration
3. Inspectorate
4. Finance and Investment

5.Pension Administration