PenCom DG visits IGP, seeks collaboration for better retirement, terminal benefits for police officers

The National Pension Commission (PenCom) has stepped up efforts to improve the welfare of police officers under the Contributory Pension Scheme (CPS), following a highlevel visit by its Director General, Ms Omolola Oloworaran, to the Inspector General of Police (IGP), Kayode Egbetokun, at Force Headquarters, Abuja.

A statement from PenCom on Thursday said Ms Oloworaran, who was 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 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 CPS framework.

Among the reforms, PenCom is proposing a Health Insurance Scheme for retirees, raising monthly pensions to 75% 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 treasuryfunded federal workers one year of total emoluments as a gratuity at retirement.

This follows an earlier highlevel 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, 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.