PenCom urges Lagos State Governor to extend periodic pension increase to retirees under CPS, as Sanwoolu welcomes the idea.
By Afolabi Oyekunle. The National Pension Commission (PenCom) has called on the Lagos State Governor, Babajide Sanwo-Olu, to extend periodic pension increases currently enjoyed by Defined Benefit Scheme (DBS) retirees to those under the Contributory Pension Scheme (CPS) to boost their monthly pensions. The Director General of PenCom, Ms. Omolola Oloworaran, made the request during a courtesy visit to Governor Sanwo-Olu at the Lagos State Government House on 7 May 2025. The visit was to present the report of PenCom’s 2024 routine inspection of the Lagos State Pension Commission (LASPEC) and to thank the Governor for confirming his participation as Special Guest at the Pension Industry Leadership Retreat starting 8 May 2025. PenCom DG pointed out that currently, only DBS retirees are paid pension increases in Lagos State, leaving out their counterparts under the CPS. DG PenCom Ms Oloworaran with Gov Sanwoolu who presented her with Lagos State plaq...
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