Payment of retirement benefits promptly.
The local Government Staff Pension Board was established on 27th August 1987 by an edict No.27 of 1988 and is saddled with the responsibility of payment of retirement benefited Local Government Staff in the State.
However, despite its financial constraints, the Board was able to spend the sum of Five Hundred and Thirty Nine Million One Hundred and Seventy Five Thousand Eighty Three Naira Sixty Three Kobo only (N 539,175,083.63).
Then Board has an outstanding Arrears of Gratuity to the tuned of Three Billion Three Hundred and Sixty Five Million Five Hundred and Eighty One Thousand Nine Hundred and Sixteen Naira Ninety Four Kobo only (N3, 365, 581, 916. 94)
This is because the statutory contributors of the federal, state and Local Government could not leave up to their full flesh financial obligations, for instance the Federal Government has not been contributing anything for the past Five years instead of 5%, state Government nothing instead of 2.5% and the Local Government 2.5% instead of 15% of personnel enrollment of Local Government Staff. This consequently plunged the Board into huge Backlog of Gratuity Arrears as could be seen above.
This Financial problem is worsened by a staggering monthly increase in the number of retirees and decreased which the board received daily without a corresponding increase in the monthly Subvention.
In view of the foregoing, and the need to alleviate the hardship of beneficiaries and their dependants, there is the urgent need for your intervention to lay to rest the problem of the Board and its teeming poor and helping retirees please.