The National Pension Commission, PenCom, has responded to concerns raised by retirees under the Contributory Pension Scheme in Lagos State. The pensioners are worried about delays in the payment of approved pension increases and wage awards.

PenCom says it understands how important these payments are to retirees. The Commission also acknowledged the frustration caused by the delay in implementing the approved adjustments.

According to PenCom, it has already met with the Lagos State Government and the Lagos State Pension Commission, LASPEC.

The discussions focused on how to manage pensions under the CPS and the need to extend the right adjustments to eligible retirees in Lagos.

PenCom explained that applying pension increases is not automatic. It involves checking who qualifies, calculating the amount, determining the cost, confirming funding, and then giving instructions to Pension Fund Administrators.

The Commission said it is working with all relevant parties to ensure these steps are properly carried out

PenCom added that it will continue to work with the Lagos State Government, LASPEC, PFAs and representatives of pensioners. The goal, it said, is to reach a clear, orderly and lasting solution to the matter.

The Commission reaffirmed its commitment to protecting both contributors and retirees. It said it will continue to carry out its duty as regulator to ensure that all pension laws and rules are followed