Officers Quit Pension Payments Due To Financial Worries

“A pension is a safety net for your future”, Surrey Police Federation has said, as a survey found that nearly half of officers were considering opting out of their pension.

The latest Police Family Finance Index Report published by Police Friendly found that 46% of respondents had considered opting out of their pension in the past 12 months, with 7% going on to stop contributions altogether. Shockingly, the report, based on over 13,500 responses, found that 15% of police officers were missing meals due to lack of money.

Police Friendly said the findings pointed to a growing trend driven by the cost-of-living crisis, with rising housing costs, inflation and stagnant real-term pay forcing many officers to make difficult short-term financial decisions – often at the expense of their future.

Officers aged under 35 were significantly more likely to both consider and act on pension opt-outs, highlighting a potential long-term generational impact on retirement outcomes.

Nearly four in 10 officers said they were in significant debt when their housing costs were included. Over two thirds (68%) reported financial concerns, and over half (56%) said their financial situation had worsened over the past year. Many officers reported they had less than £100 left at the end of each month.

When asked what steps they would take to improve their personal financial situation over the next 12 months, 54% of officers planned to do more overtime to make ends meet, 16% are considering doing a second job, and 32% are thinking of changing their job and leaving the police.

Surrey Police Federation Chair Darren Pemble said: “It is a serious concern that officers are unable to afford to feed themselves, and this particularly affects younger officers under 35, who are more likely to be considering opting out of the pension. This should be a wake-up call, as the pension is a safety net for their future. We would encourage all officers to remain in the pension scheme, given what it offers.”

He continued: “It cannot be right that officers who are protecting their communities are left with less than £100 at the end of the month. Surrey is one of the most expensive areas in the country to live in, so how can we attract and retain officers to live and work here? Police officers deserve to be paid a fair wage, and the Police Federation of England and Wales is asking for pay restoration, given we are over 20% worse off in real terms since 2010.

“If we want officers to join policing and stay, we need to pay them accordingly to aid retention and morale. Financial health adversely affects an officer’s mental health and wellbeing. The 2.5% pay increase supported by the National Police Chiefs’ Council would be another below-inflation pay rise if it goes through. What incentive is there for officers to remain in the service long term?”

You can see the Police Federation of England and Wales submission to the PRRB here https://polfed.org/news/latest-news/2026/police-pay-2026-our-evidence-to-prrb/