PenCom aims to improve police pensions, says exit from CPS not needed

Nigeria's National Pension Commission (PenCom) is actively seeking to reassure police personnel about their future retirement benefits. The commission aims to improve the payouts within the existing Contributory Pension Scheme (CPS), countering rising anxieties among officers who have expressed concerns about remaining in the scheme.

Omolola Oloworaran, Director-General of PenCom, clarified on Tuesday that the commission's focus is on securing enhanced retirement packages for officers. This initiative is intended to allay fears and demonstrate a commitment to improving the financial security of police personnel upon their exit from service. The goal is not to encourage or facilitate withdrawal from the CPS, but rather to strengthen it.

This proactive step by PenCom comes amid growing unrest within the police force regarding pension arrangements. By emphasizing improvements to benefits, the commission hopes to foster greater confidence in the scheme and ensure that officers receive the retirement security they deserve.

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The National Pension Commission, PenCom, has moved to allay rising unrest among Nigeria Police personnel about remaining in the Contributory Pension Scheme (CPS), saying it aims to secure improved retirement benefits for officers, not to back their withdrawal from the scheme.