The Inspector-General of Police, IGP Olukayode Egbetokun, said personnel of the Nigeria Police Force deserve a dignified and financially secured life at retirement.
Egbetokun said this on Tuesday in Abuja during an interactive session between members of the Force Management Team, and retired police officers on the exit of the Force from the contributory pension scheme.
He said the current contributory pension scheme had appeared not to guarantee dignified and financially secured life for retired police personnel in the country.
The IGP said the Force was one of the most vital institutions in the country, bearing the heavy burden of ensuring law and order, public safety and security of lives and property.
IGP Egbetokun said personnel of the force work under challenging conditions with risks and sacrifices that could not be ignored.
He said it was only just and rewarding that in retirement, police officers enjoy a dignified and financially secure life.
According to him, while the current pension scheme appears not to guarantee this, it is only right to explore ways to improve it.
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He said: “I wish to note that upon my assumption of office as the I-G, I made strong agitations to exit the Nigeria Police Force from the current contributory pension scheme.
“In a prompt response to this, I established a committee to thoroughly review the pension matters as it affects police personnel and propose actionable recommendations for reforms.
“I also embarked on a tour of police commands and formations across the country to personally engage our officers as well as police retirees in the respective areas.
“One peculiar observation is that with the contributory pension scheme officers retire with makeup benefits and are unable to meet their basic needs after retirement.”
Egbtokun said the process of assessing entitlements by retired police officers had been frustratingly slow, leaving the retirees in distress and pain.
He added: “Meanwhile, there are two sides of the coin as regards the contributory pension scheme, some believing that the current patient’s regime has failed police personnel, plunging its retirees in abject property and suffering.
“Others argue that it remains the most sustainable option available, adding that the current contributory scheme provides long-term financial sustainability and eliminates the challenges associated with the old defined benefit system.
“They point out that pension funds are now managed professionally, reducing the risk of management and ensuring continued payment of benefits.
“Let me note here, that while these arguments are valid, they do not erase the hardships faced by many police retirees.”
Egbetokun said the interactive session was convened to provide a platform for all stakeholders to engage constructively and arrive at a well-informed position.
The IGP said the idea was to find a lasting solution to the biting issues of poor professional earning by police officers.
He enjoined the stakeholders to explore the available options in their reasoning, devoid of sentiments and emotions.
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