PenCom Seeks Higher FG Pension Contribution for Police

The National Pension Commission (PenCom) has urged the Federal Government to raise its pension contribution for police officers from 10 per cent to 20 per cent, saying the move would significantly improve retirement savings and welfare for personnel.

PenCom Director-General, Omolola Oloworaran, made the call during a visit to the Inspector-General of Police, Kayode Egbetokun, at Force Headquarters in Abuja, following protests by retired officers over poor welfare and demands to exit the Contributory Pension Scheme (CPS).

The commission is also proposing reforms including a Health Insurance Scheme for retirees, raising monthly pensions to 75 per cent of a police officer’s final salary, expanding the Retirement Resettlement Fund, and restructuring police pensions.

On demands to leave the CPS, Oloworaran maintained that such a step would be counterproductive, urging patience as reforms are implemented within the existing framework.

Egbetokun commended PenCom’s engagement, pledging the Police Force’s cooperation in addressing officers’ concerns. He acknowledged the challenges and expressed readiness to work towards restoring confidence in the pension system.

Earlier this month, President Bola Tinubu directed PenCom to resolve the longstanding issues with police pensions, emphasising that security personnel should retire with dignity and peace of mind.

PUNCH