Lagos pensioners threaten protest over delayed pension increases

Lagos State pensioners have launched warning protests, threatening a mega demonstration on August 31 if the state government fails to implement a promised pension increase. Members of the Nigeria Union of Pensioners (NUP) accuse the Lagos State Government and the Lagos State Pension Commission (LASPEC) of delaying adjustments that align with recent federal benefit reviews.

In response to these concerns, the Lagos State Government stated it has disbursed N168.2 billion to over 48,000 retirees under the Contributory Pension Scheme since 2007. The government highlighted that LASPEC paid N92 billion in accrued rights to more than 25,000 retirees between May 2019 and August 2026.

To strengthen the scheme, the state increased pension contribution rates in 2020 to 10 per cent for employers and eight per cent for employees. The government also noted a N5 billion payment in July 2024 intended to clear outstanding backlogs and mentioned various welfare interventions, including wage awards for retirees under the Defined Benefits Scheme.