Police commence payment of N400m investments to retired personnel

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- Police have commenced payment of N400m investments to retired personnel

- The managing director of police pension scheme, Hamza Sule, made the disclosure on Monday, February 12

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

Nigeria police pensions limited said it has commenced payment of the N400m saved annually from its investments to retired police personnel since January 2017.

Daily Trust reports that Hamza Sule, managing director of the company, made the disclosure in Enugu on Monday, February 12, at a pre-retirement seminar for police personnel retiring between January 1 and June 30, 2018 for the southeast zone.

NAIJ.com gathered that 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.

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Meanwhile, NAIJ.com had previously reported that President Muhammadu Buhari approved the payment of pension to police officers who served under the then Biafra police during the civil war.

According to report, this was contained in a statement released on Wednesday, October 18, by the Pension Transitional Arrangement Directorate (PTAD).

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