The National Pension Commission (PenCom) on Tuesday moved to calm growing unrest within the Nigeria Police Force (NPF), saying it is pursuing improvements to officers’ retirement benefits rather than advocating their withdrawal from the country’s Contributory Pension Scheme.
NewsQuest reports that retired police officers have been pressing for removal from the Contributory Pension Scheme, arguing that it has left many of them impoverished after service.
Senate President Godswill Akpabio reportedly said the issue would receive speedy consideration, and the Senate later concurred with the House on bill related to Police pension issues.
Ms. Omolola Oloworaran, Director-General of PenCom, told State House Correspondents at the Presidential Villa that members of the Force had not left the scheme and that their complaint stems largely from a perceived gulf between police pensions and those paid to the Armed Forces.
“The Police have not exited the Contributory Pension Scheme,” Ms. Oloworaran said.
“They want to exit because they believe their benefits are too small. They compare their benefits with those of the military and are not happy with that. They want to be at par with the military.”
Ms. Oloworaran said PenCom has opened talks with relevant government authorities to address the disparity by seeking enhanced benefits for police personnel.
She desribed the commission’s position in simple terms: the priority is better retirement outcomes for ordinary Nigerians, whether those gains are delivered inside the existing scheme or by changes outside it.
“We share their frustration because we stand for anything that puts more money in the pockets of ordinary Nigerians,” she said.
“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.”
PenCom acknowledged divisions inside the police over whether to press for a formal withdrawal from the CPS. While some factions publicly advocate an exit, Ms. Oloworaran said most officers are chiefly interested in higher post‑service pay.
“There are different camps within the police. Some are not fully aligned with what we are doing, but many simply want a better standard of living after retirement. That is exactly what PenCom is fighting for,” she said.
On complaints that pension payments are delayed, Ms. Oloworaran rejected the suggestion that retirees routinely face obstacles when their paperwork is complete.
She said PenCom monitors grievances closely — including complaints aired on social media — and investigates credible claims promptly.
“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,” she said.
As part of efforts to improve responsiveness, PenCom boss said the organisation will deploy a customer‑relationship management platform to centralize complaints and track resolutions from contributors and pensioners nationwide.
Beyond the immediate dispute with police, PenCom outlined plans to broaden pension coverage among informal‑sector workers over the next two years.
Ms. Oloworaran said the commission is digitizing registration, simplifying enrolment and licensing accredited pension agents to distribute services in markets, rural communities and other underserved locations.
“We are putting the building blocks in place. We have digitized onboarding, simplified the registration process and licensed three accredited pension agents, while four more are undergoing approval,” she said.
“This year is about building the foundation, and within the next two years we expect to begin seeing significant results.”
Ms. Oloworaran conceded that uptake under the Micro Pension Plan has been slower than hoped, but said sustainable growth requires a disciplined institutional framework rather than rushed expansion.
She also defended PenCom’s stewardship of pension assets amid greater investments in the capital markets and infrastructure projects.
The commission enforces strict investment rules, she said, restricting placements to institutions and assets that meet high standards of credit quality, governance and profitability.
“You cannot simply invest pension funds in any company. There are clear investment guidelines. Companies must demonstrate profitability, maintain strong credit ratings and meet other regulatory requirements before pension funds can be invested,” she said.
Ms. Oloworaran said PenCom conducts regular compliance examinations and spot checks on Pension Fund Administrators, and that each PFA is overseen by board investment and risk committees to ensure adherence to the regulatory framework.
She also defended a recent policy change allowing PFAs to invest in parent companies of their pension custodians.
The restriction, introduced earlier to limit conflicts of interest, was eased after a regulatory review found the risks manageable and opened exposure to well‑capitalized Tier‑1 banks such as First Bank, Zenith Bank and UBA.
“The risks were carefully assessed before the decision was taken. These are well‑capitalized institutions with strong track records, and all investments remain subject to PenCom’s stringent regulatory oversight,” she said.
