LASU Retirement Lecturer Series

Retirement Lecturer Series, PBT brings lecture series to a close, speakers counsel members of staff to update their records.

The well publicized sensitization lecture series on issues relating to retirement of members of staff (Teaching and Non-Teaching) was brought to a close on Wednesday, 6th September 2023 at the Evans Medical Hall (Administrative Block), Epe Campus of the University, Lagos.

The sensitization lecture series was tailored inline with the strategic goal 5 of the current University Management (to promote the welfare of all staff and students in the University).

A member of the Lagos State University Pension Board and Chairman, Lecture Series Committee, Prof. Akin ONAFALUJO while discussing the topic *"Investment Issues In Pension"* exhaustively spoke on replacement rate; life expectancy; financial discipline; need to plan for retirement; programmed withdrawal (pw); insurance annuity among others.

The professor of Insurance from the Faculty of Management Sciences equally gave brief history of how the pensions' activities started at the 40year old University. He encouraged all staff to visit the Bursary to obtain further necessary clarification and right information on their pension plan, adding that, members of staff need to plan well for their retirement and do not need to leave it in the hands of the Pension Funds Administrators (PFAs).

He further appreciated the Lagos State Government for its commitment to staff welfare at the University. 

He thanked the Vice Chancellor, Prof. Ibiyemi Ibilola OLATUNJI-BELLO, mni, NPOM and members of the University Management for the approval granted the Pension Board of Trustees ably chaired by the Deputy Vice Chancellor (Administration), Prof. Adenike Omotunde BOYO to conduct the all important lecture series across the University Campuses.

Prof. Onafalujo utilized the platform to appreciate members of the Board and Lecture Series Committee for their commitment and the support enjoyed from them towards the realization of the goal of the Committee.

The second speaker who is also a member of the Lagos State University Pension Board and Deputy Registrar, Legal Division, Mrs. Olajumoke O. BOYEJO spoke on "Emerging Legal Issues On Pension Matters".

Mrs. Boyejo represented by Administrative Officer II, Legal Division, Mr. Abdul-Azeez SHAKIRU talked extensively on cessation of appointment and implications on pension; next of kin; practical issues involved in choosing next of kin; who should be the next of kin; beneficiary; death-in-service; wills; Lagos State Pension Reform Law, 2021 (as amended) and Lagos State University Bio-data form.

Earlier, the Head of Epe Campus, Prof. Rafiu OKUNEYE in his opening remarks welcomed the Lecture Series Committee, talked briefly on the importance of the retirement lecture, and commended the University Management under the leadership of Prof. Ibiyemi Ibilola OLATUNJI-BELLO, mni, NPOM for the support giving to the Board and Lecture Series Committee. 

Prof. Okuneye charged participants to take the retirement lecture very serious and pay attention to the speakers. His words "... information about pension should be regular and the exercise be conducted regularly. We should be able to follow our pension with ease. I feel that this sensitization is a very good one. It should not be a one-off thing. I feel people should be sensitized like two or three times a year. We value this programme. On behalf of the Campus, I thank the Vice Chancellor, Prof. Ibiyemi Ibilola OLATUNJI-BELLO, mni, NPOM, Deputy Vice Chancellor, Administration and Chairman of the Board, Prof. Adenike Omotunde BOYO, for the approval and support accorded this event", he said.

In the same vein, Deputy Registrar, Non-Academic Staff Division (NASD) and member, Lagos State University Pension Board of Trustees, Mr. J. M. Tadopede advised members of staff present not to take the lecture for granted. "...we all should be prepared for retirement. Take the exercise as serious as it demands.", he concluded.

Other members on the team were: Deputy Registrar, Academic Staff Establishment (ASE), Mr. Samuel O. Otesanya who was represented by Principal Assistant Registrar (ASE), Mr. I. O. Hamed, Principal Executive Officer II, Pensions Division and Secretary, Lecture Series Committee, Mrs. A. O. Oniyilo and Senior Assistant Registrar, Pensions Division, Mrs. F. O. IBIRONKE.

The vote of thanks was given by the Principal Assistant Registrar, Pensions Division, A.W.A. Rahman (Esq).

Recall that similar exercise had earlier been conducted at the Main Campus, Ojo and Lagos State University College of Medicine (LASUCOM), Ikeja, Lagos.

The highly interactive session was well attended by members of staff (Teaching and Non-Teaching).

MySchoolNews reporting.