The National Pension Commission (PenCom) is working to resolve tensions among Nigerian police officers regarding their involvement in the Contributory Pension Scheme (CPS). Director-General Omolola Oloworaran clarified that the police have not left the scheme, noting that current frustrations stem from a desire for retirement payouts comparable to those received by military personnel.
Speaking in Abuja, Oloworaran explained that PenCom is actively consulting with government stakeholders to boost police retirement packages. She emphasized that the primary goal is to ensure officers receive better financial support, regardless of whether that change occurs within the existing framework or through new adjustments. While some factions within the force continue to push for an exit, many officers are reportedly focused simply on securing a higher standard of living after their service concludes.
Addressing concerns about benefit delays, the Director-General stated that documentation remains key to timely payments. The commission is rolling out a new Customer Relationship Management platform to streamline grievance tracking. Furthermore, PenCom is prioritizing the expansion of the Micro Pension Plan, aiming to increase coverage in the informal sector through digital registration and the use of licensed agents over the next two years.
Oloworaran also reassured the public regarding the security of pension assets. She noted that investments are governed by strict regulations, ensuring that funds are only placed in high-performing, well-regulated institutions. Recent policy updates now allow Pension Fund Administrators to invest in parent companies, a move Oloworaran defended as a strategy to unlock better returns from Tier-1 financial institutions without compromising safety.
