Police exit from contributory pension huge risk – PenOp

Mr Oguche Agudah, the Chief Executive Officer of PenOp, voiced the concern on Tuesday in Abuja during a public hearing on a bill for an act to establish a police pension board. He said that the CPS operates on a pre-funded model with both employees and employers contributing a mandatory percentage of the employee’s salary. Agudah said that usually, a minimum of eight per cent from the employee and 10 per cent from the employer, totaling a minimum contribution rate of 18 per cent, is usually gathered.