The National Pension Commission (PenCom) has called on the Federal Government to increase its pension contribution for serving police officers from 10% to 20%, weeks after retired officers protested over poor pensions.
PenCom also rejected demands by retirees to remove the police from the Contributory Pension Scheme (CPS), insisting that necessary reforms can be achieved within the existing framework.
Director-General Ms. Omolola Oloworaran made this known yesterday during a visit to Inspector-General of Police Kayode Egbetokun at Force Headquarters, Abuja. The meeting was attended by senior PenCom officials, top police officers, and leaders of NPF Pensions Limited.
She outlined planned reforms, including:
- A Health Insurance Scheme enabling retired officers to earn 75% of their final salary as monthly pension.
- Expansion of the Police Retirement Resettlement Fund.
- An overhaul of the police pension structure.
Oloworaran stressed that the CPS replaced the flawed, unfunded Defined Benefits Scheme that left many retirees in hardship. Describing calls to exit the CPS as “unnecessary and counter-productive,” she urged patience as reforms roll out, while reiterating her call for the government to raise its contribution to boost retirement savings.
