Police set to withdraw from CPS
By NGOZI Onyeakusi
The Association of Retired Police Officers of Nigeria, has expressed their desire to be excluded from the Contributory Pension Scheme.
Kwara State chapter of the association in a statement signed by its Chairman, Mr. Yakubu Abdul, alleged that the scheme was not favourable to its members.
It commended members of the House of Representatives for passing the bill to amend the Pension Reform Act of 2014 to exclude members of the Nigeria Police Force, Nigeria Security and Civil Defence Corps, Nigeria Customs Service and Nigeria Immigration Service from the CPS.
It said, ‚ÄúThe Contributory Pension Scheme we are operating now has turned out to be a mirage.
‚ÄúThe scheme that was supposed to be a reform and to solve the problems (emanating) from the Defined Benefit Scheme (old pension scheme) has ended up putting pensioners under the new scheme (CPS) in a disadvantaged position. As a result of this, our pensions became substantially reduced when compared with our counterparts in the old scheme.‚ÄĚ