PenCom DG: Police pension board bill step in wrong direction… NPF should remain in CPS

Omolola Oloworaran, the acting director-general of the National Pension Commission (PenCom), has asked the Nigeria Police Force (NPF) to remain with the contributory pension scheme (CPS).

Oloworaran spoke during a public hearing on a bill to establish the police pension board in Abuja on Tuesday.

The acting director-general, represented by Farouk Aminu, commissioner of administration, reiterated PenCom’s commitment to police welfare.

She said pension must be affordable, sustainable, and adequate.

“PenCom has consistently proposed practical solutions, including increasing pension contribution rates, offering additional retirement benefits, and implementing periodic pension reviews under the existing CPS framework,” Oloworaran said.

“These measures are designed to enhance the financial well-being of retired police personnel without compromising fiscal discipline or administrative efficiency.

“Notably, the establishment of an Augmentation Fund and the enhancement of the Retiree Resettlement Scheme demonstrate PenCom’s commitment to addressing the unique needs of the police.

“The welfare of Nigeria Police personnel is paramount, the proposed bill is a step in the wrong direction.

“The CPS offers a balanced approach to achieving pension adequacy, affordability, and sustainability.”

Oloworaran also said implementing the commission’s recommendations was a more viable path to meeting the needs of the police personnel while safeguarding the broader national interest.

The PenCom DG said the senate should prioritise those solutions and uphold the principles of Nigeria’s pension reform.

On his part, Cyril Fasuyi, chairman of the senate committee on establishment and public service, said the bill was to establish a board to oversee police pension.

Fasuyi said the committee intended to create an enabling environment for retired police officers.

He added that the public hearing provides more information and an opportunity for various stakeholders.

Other stakeholders at the hearing, including the Central Bank of Nigeria (CBN), the secretary to the government of the federation (SGF), the Nigeria Union of Pensioners, also strongly opposed the bill seeking to establish the police pension board.

In 2022, Aisha Dahir-Umar, former DG of PenCom, said there was no reason for the NPF to exit the CPS.

According to Dahir-Umar, rather than exiting, the NPF should seek a salary increment and better welfare.