The National Pension Commission (PenCom) has announced new reforms aimed at improving the welfare of police officers under the Contributory Pension Scheme (CPS), including plans to raise pensions and introduce a health insurance package for retirees.
The Director General of PenCom, Omolola Oloworaran, disclosed the plans during a visit to the Inspector General of Police (IGP), Kayode Egbetokun, at the Force Headquarters in Abuja.
She was accompanied by senior management officials and met with the IGP, top police officers, and the leadership of NPF Pensions Limited, the Pension Fund Administrator managing police pension assets.
Oloworaran expressed appreciation for the Nigeria Police Force’s (NPF) service to the nation and underscored the need for stronger collaboration to address retirement concerns. She explained that the CPS was introduced to correct flaws in the old Defined Benefits Scheme (DBS), which was unfunded, lacked transparency, and often left retirees in hardship.
Highlighting proposed reforms, the DG said PenCom is working to raise monthly pensions to 75% of a police officer’s final salary before retirement, expand the Retirement Resettlement Fund, overhaul the police pension structure, and roll out a health insurance scheme for retirees.
On demands for the police to exit the CPS, Oloworaran argued that such a move would be counterproductive, stressing that the identified issues can be resolved within the existing framework. She also urged the Federal Government to increase its pension contribution for police officers from 10% to 20% to significantly boost retirement savings.
She also revealed that PenCom is collaborating with the Head of the Civil Service of the Federation on a new Gratuity Scheme, set to commence in 2026, that will grant treasury-funded federal workers one year’s total emoluments as a gratuity at retirement.
Responding, Egbetokun applauded PenCom’s initiatives and reaffirmed the Police Force’s readiness to partner in implementing the reforms. He acknowledged the concerns raised by officers and expressed commitment to constructive engagement to maintain confidence in the scheme.
PenCom pledged to continue driving reforms to ensure that police personnel retire with dignity and financial security, signalling a renewed commitment to strengthening the CPS and enhancing welfare for officers nationwide.