The National Pension Commission (PenCom) has announced sweeping reforms to improve the welfare of police officers under the Contributory Pension Scheme (CPS), including raising pensions to 75% of an officer’s final salary and introducing a health insurance package for retirees.
PenCom Director-General, 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 top police officers and the leadership of NPF Pensions Limited, the Pension Fund Administrator managing police pension assets.
Oloworaran commended the Nigeria Police Force for its service to the nation and stressed the need for deeper collaboration to resolve retirement-related challenges. She noted that the CPS was introduced to fix the shortcomings of the old Defined Benefits Scheme (DBS), which was unfunded, lacked transparency, and often left retirees in severe financial hardship.
Outlining the proposed reforms, the DG revealed that PenCom is working on:
- Raising monthly pensions to 75% of a police officer’s last salary before retirement.
- Expanding the Retirement Resettlement Fund.
- Overhauling the police pension structure.
- Launching a health insurance scheme for retired officers.
Addressing calls for the police to exit the CPS, Oloworaran argued that such a move would be counterproductive, insisting that existing issues can be fixed within the current framework. She also urged the Federal Government to increase its pension contribution for police officers from 10% to 20% to boost retirement savings significantly.
She further revealed that PenCom, in collaboration with the Head of the Civil Service of the Federation, is working on a new Gratuity Scheme scheduled for rollout in 2026. The scheme will provide treasury-funded federal workers with a lump sum equivalent to one year’s total emoluments upon retirement.
Responding, IGP Egbetokun praised PenCom’s initiatives and pledged the Police Force’s full cooperation in implementing the reforms. He acknowledged officers’ concerns and expressed commitment to continuous engagement to maintain trust in the scheme.
PenCom reaffirmed its determination to drive reforms that ensure police officers retire with dignity, financial stability, and improved post-service welfare.
