By Cross Udo, Abuja
The National Pension Commission (PenCom) has moved to allay rising unrest among Nigeria Police personnel about remaining in the Contributory Pension Scheme (CPS), saying it aims to secure improved retirement benefits for officers—not to back their withdrawal from the scheme.
Director-General of PenCom, Omolola Oloworaran, said on Tuesday that the police have not withdrawn from the CPS, contrary to widespread public perception, stressing that their grievance centred on the disparity between their retirement benefits and those enjoyed by members of the Armed Forces.
Speaking at a media briefing at the Presidential Villa in Abuja, Oloworaran said PenCom has opened talks with relevant government authorities to address police personnel concerns by improving pension benefits.
According to her, “The police have not exited the Contributory Pension Scheme. They want to exit because they believe their benefits are too small. They compare their benefits to those of the military and are not happy with the comparison. They want to be at par with the military.”
She said PenCom fully understands the concerns raised by police officers and supports efforts to improve their welfare.
“We share their frustration because we stand for anything that puts more money in the pockets of ordinary Nigerians. What they want is improved benefits. If we achieve that, it doesn’t matter whether it is done within the scheme or outside it. We are engaging the appropriate authorities on how police pensions can be reviewed and improved.”
She acknowledged that opinions within the Force differed over the proposed withdrawal from the CPS, noting that while some groups continued to advocate an exit, many officers were primarily interested in obtaining better retirement packages.
“There are different camps within the police. Some are not fully aligned with what we are doing, but many want a better standard of living after retirement. That is exactly what PenCom is fighting for.”
The PenCom boss also dismissed claims that pensioners routinely face delays in accessing their retirement benefits, insisting that retirees with complete documentation receive their entitlements without unnecessary hurdles.
She said the commission actively monitors complaints from contributors and pensioners, including those posted on social media, and immediately investigates genuine cases.
“If anyone has genuine issues, they should bring them to us. Every day, our team monitors social media for complaints. Once we identify one, we reach out immediately to establish the facts and resolve the matter.”
To further strengthen service delivery, Oloworaran disclosed that PenCom was deploying a Customer Relationship Management (CRM) platform to create a unified system for receiving, tracking and resolving complaints from pension contributors and retirees across the country.
Beyond the police pension issue, the Director-General said the commission expects pension enrolment among workers in the informal sector to rise significantly within the next two years as reforms aimed at expanding pension coverage begin to take effect.
She said PenCom was laying the foundation for that expansion by digitising registration, simplifying enrolment procedures, and licensing Accredited Pension Agents to deliver pension services to markets, rural communities, and other underserved locations.
She admitted that the commission had initially anticipated faster enrolment under the Micro Pension Plan but maintained that sustainable growth required a strong institutional framework.
Oloworaran also assured contributors that pension assets remained secure despite increased investments in the capital market and infrastructure projects.
She explained that PenCom’s investment regulations prescribe strict conditions for all investments, limiting pension funds to financially sound institutions and assets that meet rigorous standards for credit quality, corporate governance, and profitability.
The Director-General also defended PenCom’s recent policy permitting PFAs to invest in the parent companies of their pension custodians.
She explained that the restriction had originally been introduced to prevent conflicts of interest, but a comprehensive regulatory review concluded that the associated risks were minimal.
