PenCom Vows To Ensure Police Officers Retire With Dignity, Financial Security

By Sola Alabadan

The National Pension Commission (PenCom) has pledged to keep driving reforms to ensure that police officers retire with dignity and financial security, as there are calls for the police to exit the Contributory Pension Scheme (CPS).
The Director General of PenCom, Ms. Omolola Oloworaran, have this assurance when the management team of the commission visited the Inspector General of Police (IGP), Kayode Egbetokun, on Thursday in Abuja.
The PenCom boss, who expressed gratitude to the Nigeria Police Force (NPF) for its tireless service to the nation, stressed the need for stronger collaboration between PenCom and the Police to address pension concerns and improve retirement benefits for officers.
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.
The DG acknowledged the challenges, but stressed that PenCom is working on solutions that can be achieved within the Contributory Pension Scheme framework.
Among the reforms, PenCom is proposing a Health Insurance Scheme for retirees, raising monthly pensions to 75 percent of a police officer’s final salary before retirement, expanding the Retirement Resettlement Fund, and overhauling the police pension structure.
On calls for the police to exit the CPS, Ms. Oloworaran said such a move is 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 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 treasury funded federal workers one year of total emoluments as a gratuity at retirement.
This follows an earlier meeting between Ms Oloworaran and the Head of Service, Mrs Didi Esther WalsonJack, as part of efforts to ensure federal employees have a secure financial cushion at retirement.
Responding, Egbetokun praised PenCom’s efforts and reaffirmed the Police Force’s readiness to work with PenCom to resolve police pension concerns.
He acknowledged the challenges police officers have raised and expressed his commitment to engaging constructively to maintain confidence.
This renewed partnership signals a joint commitment to strengthening the CPS and improving the welfare of police personnel nationwide.