Pension Changes Could Add To Police Retention Problem

If the Government changes the rules on police pensions in the Budget officers could leave the service early, which would be “a kick in the teeth” for forces, Hampshire Police Federation has said.

The Treasury is considering cutting the amount savers can withdraw from their pension without paying income tax from £268,275 to £100,000. Experts say the move could drive serving police officers to leave the workforce to save thousands of pounds in retirement.

Hampshire Police Federation Chair Zoë Wakefield said: “If this comes in, I think people will leave. Especially those who are coming towards the end of their service or those who have already gone beyond a time where they could take their pension but want to carry on working. They’d be crazy to stay, because they’d lose tens of thousands of pounds.

“That’s going to be a real kick in the teeth for forces that are desperately trying to retain experience and retain officers.

“Initially the Government will save money, but then they’ve got to recruit a load of new police officers to replace the ones who have left. And even though you’re recruiting new police officers, you’re not replacing the experience. Already, because of the years of austerity, around 50% of Hampshire Constabulary have got fewer than five years’ service. That experience is so crucial.”

Meanwhile Home Office figures show that police officers voluntarily leaving the service has hit a record high of more than 3.4% of the workforce – double the rate four years ago. Writing in The Telegraph, PFEW’s Acting Chair Tiff Lynch said that because of this attrition rate, Labour’s plans for 13,000 extra neighbourhood police officers were “unattainable”.

Zoë said: “There needs to be real reassurance from chief officers that things are going to get better. I think some people might be persuaded to stay if they could see light at the end of the tunnel, but at the moment we know that the pay awards we have got weren’t as big as they should have been. And because inflation’s come down, pay rises going forward are likely to be a lot less.

“With officers having their rest days cancelled, working long hours and a lot of overtime, they’re shattered, drained and exhausted. And when they see other people leave and get jobs outside of policing where they’ve got a much better work-life balance, they think, ‘Why should I stay?’.”