Inspector General of Police, Kayode Egbetokun, has expressed strong opposition to the bill proposing the removal of the police from the Contributory Pension Scheme (CPS).
Speaking to police officers in Abuja, Egbetokun warned that exiting the scheme would not benefit the police force.
He pointed out that if the police were to leave the CPS, they would regress to a system where their pensions would be dependent on political decisions and annual budget allocations, rather than a structured pension scheme.
He explained, “If we exit the current CPS, we are going back to square one, where pensions will be in the hands of politicians and subject to yearly budget constraints. When the government lacks funds, pensions will not be paid, and you will have to wait months, just like the retirees of the past.”
Egbetokun emphasized the importance of understanding the full details of the bill before calling for a change, urging police officers to consider where they would be going if they exited the scheme.
He said, “You must know where you’re going before shouting ‘I want to go’.”
As an alternative, Egbetokun revealed that he is working on a new pension system that would allow police officers to retire with their full salary as their monthly pension, ensuring better financial security for retirees.
“Let us be careful not to move from the frying pan to the fire. I care about your welfare, and I will continue fighting for the best pension for our police officers in retirement.”
