The National Pension Commission (PenCom),has advocated the need for the Federal Government to raise its pension contribution for police officers from 10% to 20%.
Its Director-General, Ms Omolola Oloworaran, who said this when she visited the Inspector General of Police (IGP), Kayode Egbetokun, at the Force Headquarters, Abuja, said the development would substantially the boost retirement savings of the officers.
PenCom, she said, 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 treasury-funded federal workers one year of total emoluments as a gratuity at retirement.
This follows an earlier high-level meeting between Ms Oloworaran and the Head of Service, Mrs Didi Esther Walson-Jack, as part of efforts to ensure federal employees have a secure financial cushion at retirement, she also said.
In a statement, she said 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.
Expressing gratitude to the Nigeria Police Force (NPF) for its tireless service to the nation, Ms Oloworaran emphasized the need for stronger collaboration between PenCom and the Police to address pension concerns and improve retirement benefits for officers.
She told the 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.
PenCom, on its part, pledged to keep driving reforms to ensure that police officers retire with dignity and financial security.
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.