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Police Pension assures good investment

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Police pension fund administrator, the NPF Pensions Limited has promised the personnel of the Nigeria Police including serving and retired on good investment return and safety of their pension fund assets.

The Chairman, Board of Directors NPF Pensions, IGP Suleiman Abba (Rtd), gave the reassurance during the commissioning of the new head office in Abuja.

Suleiman stated that the company would not relent at delivering the best services and make the enhancement of their welfare.

He said when the NPF Pensions was established in 2014, the personnel of the Nigeria police were registered and scattered amongst other Pension Fund Administrators (PFAs) in the country with attendant challenges associated with lack of coordination and a dedicated service provider that will focus mainly on the needs of Police Personnel as they affect their pension matters.

He noted that these and other grievances fueled the agitation of police personnel to seek an exit from the Contributory Pension Scheme (CPS).

He said: “As a result of this development, the Federal Government set up a Technical Committee to propose the exiting of the Nigeria Police from the CPS. The Office of the Secretary to the Government of Federation-led Committee submitted its report and after series of consultations, NPF Pensions Limited was established in 2012 and licensed in 2014, when I was the Inspector General of Police.

“Since the commencement of its operations in January 2015, which was also at a time I was the IGP, NPF Pensions has taken with great importance the issue of bringing pension services and welfare benefits to the door-steps of its clients (the Nigeria Police Personnel). Through its strategically located Pension Desk Officers and Customer Service Officers located at each of the state commands, formations, training schools and colleges, various forms of harmonious relationship have been achieved. The PFA has lived up to its expectations of police officers and other stakeholders’’.

The Managing Director, NPF Pensions, Hamza Sule Wuro Bokki, added that the PFA would continue to provide quality customer and financial advisory services to their stakeholders and adopt investment strategies that would yield the best possible returns on their pension assets.

He disclosed that the PFA was strictly established to administer, invest and manage pension funds in strict adherence to guidelines from the National Pension Commission (PenCom) of Personnel of the Nigeria Police Force.

“Our fund performance is measured and reported daily to management on a post-trade basis. Asset valuation and pricing of positions and the analysis of investment returns are done daily on accrual and marked-to-market basis. Also, performance attribution is done on a daily, weekly or monthly basis and classified by sector, industrial grouping and market.

“We also provide a range of products and services to our clients that include Retirement Savings Account, Additional Voluntary Contribution and Access to Financial Planning. Furthermore, online real-time reports are available through the management dashboards. Internally derived and public benchmarks are used to appraise the performance of the Fund by security, sector, industrial grouping and market”, he stated.

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