PenCom's Director-General, Ms. Aderonke Adedeji Omolola Oloworaran, called on the Federal Government to double its pension contribution for police officers from 10% to 20%. This move would substantially enhance the retirement savings of officers who risk their lives to protect the nation.
During a courtesy visit to the Inspector General of Police, Kayode Egbetokun, Oloworaran unveiled several initiatives:
- A new Gratuity Scheme, launching in 2026, providing treasury-funded federal workers with one year's total emoluments as a lump sum at retirement.
- A proposed Health Insurance Scheme for retirees.
- Raising monthly pensions to 75% of a police officer's final salary before retirement.
- Expanding the Retirement Resettlement Fund.
- Overhauling the entire police pension structure.
Oloworaran emphasized the importance of collaboration between PenCom and the police to address pension challenges and improve welfare packages. She assured that PenCom is committed to ensuring officers retire with dignity and financial security.
IGP Egbetokun commended PenCom's efforts and reaffirmed the Police Force's readiness to partner with the commission to address officers' pension concerns.