PenCom urges FG to raise police pension contribution to 20%

The National Pension Commission has advocated that the Federal Government increase its pension contribution for police officers from 10 per cent to 20 per cent.

In a statement released by PenCom on Thursday, it was revealed that the Director General, Ms Omolola Oloworaran, made this call during her visit to the Inspector General of Police, Kayode Egbetokun, at Force Headquarters, Abuja.

This visit followed protests by retired police officers, who decried poor welfare and demanded exit from the Contributory Pension Scheme.

Among the reforms, PenCom is proposing a Health Insurance Scheme for retirees, raising monthly pensions to 75 per cent of a police officer’s final salary before retirement, expanding the Retirement Resettlement Fund, and overhauling the police pension structure.

“She also advocated for the Federal Government to raise its pension contribution for police officers from 10 per cent to 20 per cent, which would substantially boost retirement savings,” the statement partly read.

On calls for the police to exit the CPS, Oloworaran said such a move is unnecessary and counterproductive, emphasising that the issues can be resolved within the scheme. She urged patience and continued dialogue as PenCom and the NPF implement these reforms.

Speaking during the visit, IG Egbetokun commended 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.

Earlier this month, President Bola Tinubu ordered PenCom to resolve the longstanding issue surrounding police pensions, stressing that personnel who serve and protect the nation must retire with dignity and peace of mind.