Brighter hope at the end of tunnel, as Police Force partners PenCom to have secured future for pensioners

  



From Left: The Director General of the National Pension Commission, Ms. Omolola Oloworaran and the Inspector-General of Police, Kayode Egbetokun during a recent visit to the Nigeria Police Force Headquarters.

By allcitynews.blog 



There seems to be brighter hope Hope at the end of tunnel, as Police Force entered into partnership with National Pension Commission (PenCom) to create and sustain brighter future for pensioners in the police.


Hence, PenCom intensified efforts to enhance the welfare of police officers under the Contributory Pension Scheme (CPS) following a high-level visit by its Director General, Ms. Omolola Oloworaran, to the Inspector General of Police (IGP), Kayode Egbetokun, at Force Headquarters, Abuja.


Ms. Oloworaran, accompanied by senior management team of PenCom, met with the IGP, senior police officers, and the leadership of NPF Pensions Limited – the Pension Fund Administrator managing police pension assets.


She commended the Nigeria Police Force (NPF) for its dedication to national service and underscored the need for stronger collaboration to address pension concerns and improve retirement benefits for officers. The DG 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 retirees in financial distress.


Acknowledging existing challenges, Ms. Oloworaran outlined proposed reforms within the CPS framework, including a Health Insurance Scheme for retirees, raising monthly pensions to 75% of a police officer’s final salary, expanding the Retirement Resettlement Fund, and restructuring the police pension system.


She dismissed calls for the police to exit the CPS as “unnecessary and counterproductive,” urging patience while reforms are implemented. She also called on the Federal Government to increase its pension contribution for police officers from 10% to 20%, which would significantly boost retirement savings.


PenCom is also collaborating with the Head of the Civil Service of the Federation to launch a new Gratuity Scheme in 2026, which will provide treasury-funded federal workers with one year’s total emoluments as a gratuity at retirement.


In response, IGP Egbetokun praised PenCom’s commitment and pledged the NPF’s readiness to work with the commission to address pension concerns, assuring officers of continued constructive engagement.


PenCom reaffirmed its commitment to driving reforms that ensure police officers retire with dignity and financial security, signalling a strengthened partnership aimed at improving the welfare of police personnel nationwide.





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