Police officers are facing growing financial pressures, with thousands considering opting out of their pensions just to make ends meet, according to new figures.
And some 15 per cent of officers said they have missed meals in the past 12 months due to a lack of money.
The figures are in the latest Police Family Finance Index Report, published by Police Friendly, a South Wales Police Federation member services partner.
Tiff Lynch, national chair of the Police Federation of England and Wales (PFEW), said: “We’ve seen again this week the very real dangers officers face; bravery and selflessness, running towards danger to protect the local community.
“What the public aren’t told is that those same officers are doing it on pay that means they struggle to pay the bills.
“Up to 10,000 officers may already have stopped paying into their pensions just to get through the month.
“This is not sustainable. A minimum seven per cent annual pay award for the next three years is both fair and affordable because the alternative is losing experienced officers and putting public safety at risk.”
Phil Walker, South Wales Police Federation chair, said: “These results reflect conversations we are having every day with our members in South Wales.
“Officers are committed to serving their communities, but some are facing genuine financial hardship.
Pensions
“When officers can’t put food on the table, or feel forced to consider stepping away from their pensions to cover monthly bills, it highlights just how serious the situation has become.
“We need meaningful action on pay and support to ensure policing remains a sustainable career.”
The report, based on more than 13,500 responses from across the UK police family, highlights significant concern around long-term financial security.
Key findings include:
· 46 per cent of officers have considered stopping pension contributions in the past year
· 7 per cent have already opted out altogether
· 68 per cent report current financial worries
· 56 per cent say their financial situation has worsened over the last 12 months
· Nearly four in ten officers are in significant debt once housing costs are included
Annette Petchey, Police Friendly chief executive, said: “The fact that nearly half of police officers have considered opting out of their pension should be a real wake-up call.
Retirement
“There is a common assumption that police officers have their police pension to fall back on – a safety net for their future. But what we are now seeing is individuals having to make very difficult trade-offs between meeting today’s costs and protecting their future.
“When police officers feel compelled to step away from their pension, it can place strain on their own financial security and, for many, have wider implications for their families. It highlights just how challenging the current situation has become.
“For younger officers especially, opting out – even temporarily – can have a lasting impact on retirement outcomes. But officers quite clearly don’t feel there is an alternative.
“Ultimately, this isn’t all about pensions. It’s about whether police officers can afford to build a stable life and look ahead to a retirement that reflects the dedication they have made to the service.”
Wellbeing
Andy Rhodes OBE QPM, service director of the National Police Wellbeing Service, added: “The findings from Police Friendly’s latest survey echo the serious concerns we have about the financial challenges faced by those in policing.
“These findings can’t be viewed in isolation. We cannot underestimate the weight financial instability can have on a person’s mental health and wellbeing.
“Year-on-year, Police Friendly release findings from their annual survey – and the results get worse each time around. This is just one of many elements highlighting the growing strain and pressures being placed on the shoulders of police officers and their families.
“The only way we can stop this is for multiple key stakeholders to collaboratively address the key issues.
“We recognise that it can be difficult to reach out for support using work systems. If you are working in policing, or you have left the service, or you are a family member, and you are concerned about your finances or would like reliable advice, there are numerous confidential, independent options we must keep promoting.”
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