The NPF Pensions Limited says it has transferred N36.55bn to the Retirement Savings Accounts of 234,296 police beneficiaries.
The money, according to the Managing Director of NPF Pensions Limited, Dr. Hamza Bokki, is from an accrued profit for the RSA holders in 2016.
Bokki stated this at the Senior Officers’ Mess of the Cross River State Police Command in Calabar at a sensitisation programme on pension scheme.
The event 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, which was ordered by the Inspector-General of Police, Mr. Ibrahim Idris, was aimed at resolving all pension-related complaints by officers.
He stated that 25 per cent of policemen nationwide had yet to transfer their RSAs to the NPFPL pension scheme, adding that N11bn was paid to the scheme in the last two years following the collection of over 170, 000 nominal update forms.
He said, “We transferred as of December 31, 2016 the pension contributions of 234, 296 police officers. We made a profit of N36.55bn for 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 industry average of 10.42 per cent.”