By George OPARA
National Pension Commission, PENCOM, has affirmed planned proposals on enhance retirement benefits of Nigerian Police Officers under the contributory pension scheme.
The commission made this development public in a latest policy document.
It said the move was to proffer a lasting solution to the incessant agitation to exit the contributory pension scheme over low pensions by Nigerian police retirees.
Under the approved framework, Spear News learned that retired police officers will receive a monthly pension equivalent to 100 per cent of their final salary for life, a demand that police personnel and retirees had consistently pushed for over the years.
The package, it was disclosed, also provides for gratuity payments amounting to 200 per cent of annual emoluments, a development expected to improve retirement benefits for officers substantially.
Also, under the proposed arrangement, the Federal Government is expected to increase its pension contribution for serving police officers from the current 10 to 20 per cent monthly while employee contribution remain eight per cent.
The new arrangement, which involves a monthly pension equivalent to an officerβs last salary and increased gratuity benefits, is expected to strengthen financial security for retired personnel and boost the morale of officers still in active service.
This measure is expected to significantly improve Retirement Savings Account (RSA) balances, enhance pension payouts, and strengthen the long-term sustainability of the pension structure.
If accepted by President Bola Tinubu, the police augmentation plan for police personnel will reflect the governmentβs recognition of the policeβs critical role in maintaining national security and public order, as well as the need to ensure officersβ dignity and stability after retirement.
The development comes as organised labour movement has consistently highlighted that the enhanced CPS framework offers a more sustainable and transparent alternative to both the old Defined Benefits Scheme and the uncertainties surrounding a complete exit from the contributory system.
They argued that strengthening the current pension structure and leveraging NPF Pensions Limitedβs institutional experience would better guarantee the long-term welfare and financial security of serving and retired police personnel.
Police pensioners who have been protesting against the Contributory Pension Scheme insisted that the scheme which both employers and employees to contribute monthly into Retirement Savings Accounts (RSAs) managed by Pension Fund Administrators (PFAs) has worsened their welfare.
Spear News recalls that Some retirees claim they receive between N30,000 and N80,000 monthly, while others say lump-sum retirement benefits are grossly inadequate.
A major source of anger among police pensioners is the perceived disparity between the police and other security agencies.
The military, Department of State Services (DSS), and some intelligence agencies were exempted from the CPS and returned to more favourable pension arrangements, while the Nigeria Police Force remained under the scheme.
As a solution, President Bola Tinubu through the National Assembly, approved N758 billion Federal Government of Nigeria bond to clear all pension back log and arrears for all retirees including Police in 2025.
The intitiative had made life more meaningful for Nigerian retirees, just as all backlog of pension arrears from 2012 were paid and monthly pensions were enhanced.
But pension advocates argued that instead of scrapping the CPS, the government should increase police welfare, review pension calculations, and provide supplementary retirement benefits for personnel.
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