PenCom DG Advocates 20% Pension Contribution For Police

The director general of the National Pension Commission, Ms Omolola Oloworaran, has urged the Federal Government to raise its pension contribution for police officers from 10 per cent to 20 per cent to substantially boost retirement savings for Police pensioners.

According to a statement issued by the commission on Thursday, the DG made the call when she visited the Inspector General of Police (IGP), Kayode Egbetokun, at Force headquarters in Abuja.

Ms Oloworaran, accompanied by senior members of PenCom’s management team, met with the IGP, senior police officers, and the leadership of NPF Pensions Limited, the Pension Fund Administrator responsible for managing police pension assets.

Expressing gratitude to the Nigeria Police Force (NPF) for its tireless service to the nation, Ms Oloworaran stressed the need for stronger collaboration between PenCom and the Police to address pension concerns and improve officer retirement benefits.

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 CPS framework.

Among the reforms, PenCom proposes a Health Insurance Scheme for retirees, raising monthly pensions to 75 per cent 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.

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 high-level meeting between Ms Oloworaran and the Head of Service, Mrs Didi Esther Walson-Jack, as part of efforts to ensure federal employees have a secure financial cushion 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. He acknowledged the challenges police officers have raised and expressed his commitment to engaging constructively to maintain confidence.

PenCom, on its part, pledged to keep driving reforms to ensure that police officers retire with dignity and financial security.

This renewed partnership signals a joint commitment to strengthening the CPS and improving the welfare of police personnel nationwide.