PenCom Seeks 200% Gratuity, 100% Final-salary Pension For Police Retirees

 

The National Pension Commission (PenCom) has proposed a major overhaul of retirement benefits for Nigeria Police officers under the Contributory Pension Scheme (CPS), recommending a monthly pension equal to 100 per cent of an officer’s final salary for life and a gratuity payment of 200 per cent of annual emoluments.

Two sources with direct knowledge of the proposal — one at PenCom and another at Police Pensions Limited — confirmed the plan to our correspondent on condition of anonymity.

The measure is part of federal government efforts to address persistent agitation from retired police personnel who say CPS payouts are inadequate.

According to one of the sources, under the approved framework, 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 also provides for gratuity payments amounting to 200 per cent of annual emoluments, a development expected to substantially improve retirement benefits for officers.

In the same vein, under the proposed arrangement, the federal government is expected to increase its monthly pension contribution for serving police officers from the current 10 to 20 per cent, while employee contributions will remain at 8 per cent.

The new arrangement, which includes a monthly pension equivalent to an officer’s 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.