…PenCom moves to improve officers’ retirement benefits

By Bimbola Oyesola

The National Pension Commission (PenCom) has pledged sweeping reforms to enhance the welfare of police officers under the Contributory Pension Scheme (CPS), following a high-level meeting between its Director General, Ms. Omolola Oloworaran, and 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 dedicated to managing police pension assets.

Expressing gratitude for the Nigeria Police Force’s dedication to safeguarding the nation, Ms. Oloworaran underscored the need for a stronger working relationship between PenCom and the Police to tackle pension concerns head-on.

“Our police officers serve with courage and sacrifice, and they deserve to retire with dignity,” she said. “The Contributory Pension Scheme was designed to correct the flaws of the old Defined Benefits Scheme, which left too many retirees in hardship. We are committed to finding solutions that work within the CPS framework to ensure our officers have a secure future.”

Among the reforms proposed by PenCom are a Health Insurance Scheme for retirees, raising monthly pensions to 75% of a police officer’s final salary, expanding the Retirement Resettlement Fund, and overhauling the police pension structure.

On ongoing calls for the police to exit the CPS, Ms. Oloworaran was clear:

“Leaving the CPS is neither necessary nor in the best interest of our officers. The issues are solvable within the scheme, and we are already taking steps to address them. What we need is patience, collaboration, and constructive dialogue.”

She further advocated for the Federal Government to raise its pension contribution for police officers from 10% to 20% — a move she said would significantly increase officers’ retirement savings.

PenCom is also working with the Head of the Civil Service of the Federation on a new Gratuity Scheme, set to launch in 2026, which will provide treasury-funded federal workers with one year of total emoluments as a gratuity upon retirement. This initiative follows Ms. Oloworaran’s earlier meeting with the Head of Service, Mrs. Didi Esther Walson-Jack.

In response, IGP Egbetokun welcomed the proposals and commended PenCom’s proactive engagement.

“The welfare of our officers, both in service and in retirement, is a top priority. We acknowledge the concerns raised and will continue to work hand-in-hand with PenCom to address them. These reforms, if implemented, will go a long way in boosting the morale and confidence of our personnel.”

The renewed partnership between PenCom and the Police signals a united front in strengthening the CPS and ensuring that Nigeria’s police officers — who serve at great personal risk — can look forward to a secure and dignified retirement.