The National Pension Commission, PenCom, has urged the Federal Government to increase its pension contribution for police officers from the current 10 per cent to 20 per cent.
In a statement released on Thursday, PenCom disclosed that its Director-General, Omolola Oloworaran, made the appeal during a visit to the Inspector General of Police, Kayode Egbetokun, at the Force Headquarters, Abuja.
The meeting came in the wake of protests by retired police officers over poor welfare and demands to exit the Contributory Pension Scheme, CPS.
As part of its reform proposals, PenCom is advocating the introduction of a Health Insurance Scheme for retirees, increasing 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.
“She also advocated for the Federal Government to raise its pension contribution for police officers from 10 per cent to 20 per cent, which would substantially boost retirement savings,” the statement partly read.
Addressing calls for the police to leave the CPS, Oloworaran described such a move as “unnecessary and counterproductive,” adding that “the issues can be resolved within the scheme.” She called for “patience and continued dialogue” as both PenCom and the Nigeria Police Force work to implement the proposed reforms.
In his remarks, IG Egbetokun commended PenCom’s efforts and reiterated the Police Force’s readiness to work with the commission in addressing pension concerns. He acknowledged the grievances raised by officers and pledged to “engage constructively to maintain confidence.”
Earlier in August, President Bola Tinubu directed PenCom to resolve the lingering police pension issues, stressing that personnel who serve and protect the nation “must retire with dignity and peace of mind.”
