Although the Contributory Pension Scheme currently addresses several of the shortcomings of previous Nigerian pension schemes, current PFAs have been unable to fully address the peculiarities of the Police Force. An example is the reconciliation of police personnel data which is crucial for obtaining pension contributions from the CBN and for effective pension administration.
As a result, the Federal Government of Nigeria approved that members of The Nigeria Police Force should continue to be covered under the CPS, with a proviso that a Pension Fund Administrator be incorporated that will cater to the unique needs of the Police and by so doing, effectively manage their pension and other welfare issues such as the Group Life Assurance and Health Insurance Schemes.
NPF Pensions Limited was incorporated on 21st October 2013 with a fully paid share capital of N1 billion. The two major shareholders are; Nigeria Police Welfare Insurance Cooperative Society Ltd and Nigeria Police Multipurpose Cooperative Society Ltd.
Our Head office is located at: NPF PENSIONS HOUSE, Plot 3820, R.B. Dikko Street, Off Shehu Shagari Way, Opposite Force Headquarters, Central Business District (CBD) Abuja.
NPF Pensions Ltd has six regional offices in the six geopolitical zones of the federation. The offices are located as follows:
North-West Regional Office: Morai Road, Tudun Wada Area, Gusau, Zamfara state
North-East office: Civil Defence Close, off Goodluck Jonathan Road, Gombe, Gombe State.
South-East office: Plot 5, Ebeano Housing Estate, Enugu, Enugu State.
South-South office: Plot 4, Lord Ugboma Crescent, GRA Phase 111, Port Harcourt, Rivers State.
South-West office: No. 37A Remi Fani-Kayode Street, GRA, Ikeja, Lagos State.
Integrity: We are committed to saying what we mean and meaning what we say
Result-oriented: Focused on performance to achieve NPFPL’s overall purpose
Respect: Embracing the diverse cultures and points of view of our Stakeholders
Service Excellence: Oriented towards serving our customers’ needs and creating value
Prudence: Careful management of our Stakeholders funds
Professionalism: Adherence to professional standards at all times
The new PFA will be responsible for managing pension assets of the entire Nigeria Police Force personnel according to the Pension Reform Act (PRA 2014).