Omolola Oloworaran, the acting director-general of the National Pension Commission (PenCom), has urged the Nigeria Police Force (NPF) to remain within the contributory pension scheme (CPS).
- Speaking at a public hearing in Abuja on a bill to establish a police pension board, Oloworaran emphasized PenCom’s commitment to police welfare.
- She stated that pensions 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 noted.
- These measures aim to enhance the financial well-being of retired police personnel without compromising fiscal discipline or administrative efficiency.
- Oloworaran highlighted that the establishment of an Augmentation Fund and enhancements to the Retiree Resettlement Scheme reflect PenCom’s dedication 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,” she asserted.
- She concluded that the CPS offers a balanced approach to achieving pension adequacy, affordability, and sustainability, recommending the implementation of the commission’s proposals as a more viable solution for police personnel needs.
