PenCom, Police Partner to Reform Pension Scheme, Boost Officers’ Retirement Benefits

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.

The National Pension Commission (PenCom) has opened a fresh chapter in its bid to improve the welfare of police officers under the Contributory Pension Scheme (CPS) following a high-level meeting between its Director General, Ms. Omolola Oloworaran, and the Inspector General of Police (IGP), Kayode Egbetokun, at Force Headquarters, Abuja.

Ms. Oloworaran, accompanied by senior PenCom executives, met with top police officers and the leadership of NPF Pensions Limited — the Pension Fund Administrator managing police pension assets — to discuss reforms aimed at addressing long-standing pension concerns.

She praised the Nigeria Police Force for its service to the nation and called for closer collaboration to deliver better retirement packages. The DG noted that the CPS was introduced to replace the flawed Defined Benefits Scheme (DBS), which left many retirees in financial hardship.

Proposed reforms include a Health Insurance Scheme for retirees, raising monthly pensions to 75% of final salary, expanding the Retirement Resettlement Fund, and overhauling the police pension structure.

Rejecting calls for the police to exit the CPS, Ms. Oloworaran said the scheme’s challenges can be resolved from within. She also urged the Federal Government to increase its pension contribution for police officers from 10% to 20% to strengthen retirement savings.

She further disclosed plans for a new Gratuity Scheme in 2026 that will grant treasury-funded federal workers one year’s total emoluments at retirement — a move being developed with the Head of the Civil Service of the Federation.

In response, IGP Egbetokun commended PenCom’s efforts and pledged the Police Force’s support in implementing the reforms.

PenCom assured that it will continue to push policies to ensure police officers retire with dignity and financial security, signaling a renewed partnership to strengthen the CPS and improve officers’ welfare nationwide.