The welfare of police officers under the contributory pension scheme is gaining traction as The National Pension Commission (PenCom) is in tripartite discussion involving PenCom, Nigeria Police and NPF Pensions Limited responsible for managing police pension assets, to improve pension conditions within the CPS framework.
This unfolded at the meeting of the concerned at Police Headquarters in Abuja where DG PenCom Ms Omolola Oloworaran and Inspector General of Police Kayode Egbetokun, met with other parties focused on the need for stronger collaboration between PenCom and the Police to address pension concerns and improve retirement benefits for officers.
PenCom Boss said calls for the police to exit the CPS, Ms Oloworaran was unnecessary and counterproductive, emphasising that the issues can be resolved within the scheme. She urged patience and continued dialogue as PenCom and the NPF implement these reforms. She reminded officers that the CPS was introduced to correct flaws in the old Defined Benefits Scheme (DBS), which was unfunded, lacked transparency and often left many retirees in financial distress.
Among the reforms, PenCom is proposing a Health Insurance Scheme for retirees, raising monthly pensions to 75% of a police officer’s final salary before retirement, expanding the Retirement Resettlement Fund, and overhauling the police pension structure. She also advocated for the Federal Government to raise its pension contribution for police officers from 10% to 20%, which would substantially boost retirement savings.
In addition, PenCom is working with the Head of the Civil Service of the Federation on a new Gratuity Scheme, scheduled to start in 2026, that will give treasuryfunded federal workers one year of total emoluments as a gratuity at retirement.
Responding, IGP Egbetokun praised PenCom’s efforts and reaffirmed the Police Force’s readiness to work with PenCom to resolve police pension concerns.
