The National Pension Commission has urged the Federal Government increase its pension contribution for police officers from 10 to 20 per cent and raise their monthly pensions to 75 per cent of their final salary before retirement.
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 urged the Federal Government to raise its pension contribution for police officers from 10 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 the body to resolve police pension concerns.
