NPFPL transfers N36.5bn to 234,296 police RSAs

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Mudiaga Affe, Calabar

The NPF Pensions Limited on Friday stated that it had credited N36.55bn to the Retirement Savings Accounts of 234,296 police officers as of December 31, 2016.

The money, according to the Managing Director, NPF Pensions Limited, Dr. Hamza Bokki, is the accrued profit for the RSA holders last year.

Bokki stated this at the Senior Officers’ Mess of the Cross River State Police Command in Calabar during the ongoing nationwide sensitisation on pension scheme.

The sensitisation exercise had in attendance over 200 senior police officers, including the state Commissioner of Police, Mr. Hafiz Inuwa.

The managing director said that the ongoing sensitisation exercise, which was prompted by the Inspector General of Police, Mr. Ibrahim Idris, was aimed at resolving all pension-related complaints by officers and men of the Nigeria Police.

He stated that 25 per cent of policemen nationwide had yet to transfer their RSAs to the NPFPL, adding that N11bn was paid under the Contributory Pension Scheme in the last two years following the collection of over 170,000 nominal update forms.

Bokki stated, “We transferred as of December 31, 2016, pension contributions of 234,296 police officers. We made a profit of N36.55bn for the transferred RSA holders and credited the entire amount to their respective accounts. The rate of return on funds in 2016 was 11.05 per cent and this places the NPFPL above the industry average of 10.42 per cent.

“We have come to sensitise you of this pension scheme, because 25 per cent of policemen have not transferred their accounts. In the last two years, we have received 170,000 nominal role update forms and N11bn was paid. That money has been lying there and we made 11 per cent return in 2016.”

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