JUST IN: PenCom, Nigeria Police Partner to Improve Officers’ Pensions, Unveil New Retirement Reforms,
By EgbemaVoice,
The National Pension Commission (PenCom) has announced a strategic partnership with the Nigeria Police Force (NPF) aimed at enhancing the pensions and welfare of police personnel under the Contributory Pension Scheme (CPS).
In a statement issued Thursday in Abuja, PenCom said its Director-General, Omolola Oloworaran, met with the Inspector-General of Police (IGP), Kayode Egbetokun, to discuss targeted reforms to address long-standing pension concerns in the force.
According to Mrs Oloworaran, the CPS was introduced to replace the unfunded and opaque Defined Benefits Scheme (DBS), which left many retirees in financial distress. She acknowledged that gaps remain but assured that PenCom is working on practical solutions within the CPS framework.
The proposed reforms include:
• Raising police pensions to 75% of final salary.
• Introducing a health insurance scheme for retirees.
• Expanding the Retirement Resettlement Fund.
• Restructuring the administration of police pensions.
• Increasing the Federal Government’s contribution to police pensions from 10% to 20%.
Mrs Oloworaran also revealed that PenCom, in collaboration with the Office of the Head of the Civil Service of the Federation, is finalising a new gratuity scheme set to begin in 2026. Under the plan, treasury-funded federal workers will receive one year’s total emoluments as a gratuity upon retirement.
The PenCom chief dismissed calls for the police to exit the CPS, warning that such a move would be “unnecessary and counterproductive.” She urged patience, promising sustained dialogue to ensure officers retire with dignity and financial stability.
“The reforms we are implementing will deliver better pensions and improved welfare for officers. Exiting the CPS is not the solution — making it work better is,” she said.
Police Commitment to Collaboration
In his remarks, IGP Egbetokun commended PenCom’s commitment and pledged the force’s readiness to work closely with the Commission to resolve pension-related challenges. He reiterated that the welfare of officers is key to maintaining public trust in the police.
The meeting underscores growing pressure to address the retirement welfare of security personnel, who have consistently raised concerns over pension adequacy, delays, and the rising cost of living.
#TheEconomicTimesNigeria
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