Police commence payment of N400m investments to retired personnel

Nigeria Police Pensions Limited says it has commenced payment of
the N400m saved annually from its investments to retired police
personnel since January 2017.

Dr Hamza Sule, Managing Director of the company, made the
disclosure in Enugu on Monday at a Pre-Retirement Seminar for
Police personnel retiring between Jan. 1 and June 30, 2018 for the
South-East zone.

Sule said that the N400 million was not part of their pensions
as the pension entitlement would still be intact.

“The payment is purely a welfare incentive and not deductible
from the Retirement Savings Account [RSA] balance of the
retiree.

“Each retired police officer is to be paid a specific amount,
free-of-charge, depending on his or her rank and the balance in the
RSA upon completion of an application form,’’ he said.

The MD said that the retirees and intending retiring police
personnel had been taught how to process their pension and how to
lodge a complaint.

“The seminar is to reveal the options and processes for
processing pensions and other important questions they want to
ask,’’ he said.

Nigeria Police Pensions Limited says it has commenced payment of
the N400m saved annually from its investments to retired police
personnel since January 2017.

Dr Hamza Sule, Managing Director of the company, made the
disclosure in Enugu on Monday at a Pre-Retirement Seminar for
Police personnel retiring between Jan. 1 and June 30, 2018 for the
South-East zone.

Sule said that the N400 million was not part of their pensions
as the pension entitlement would still be intact.

“The payment is purely a welfare incentive and not deductible
from the Retirement Savings Account [RSA] balance of the
retiree.

“Each retired police officer is to be paid a specific amount,
free-of-charge, depending on his or her rank and the balance in the
RSA upon completion of an application form,’’ he said.

The MD said that the retirees and intending retiring police
personnel had been taught how to process their pension and how to
lodge a complaint.

“The seminar is to reveal the options and processes for
processing pensions and other important questions they want to
ask,’’ he said.