The findings of Metfriendly’s latest Police Family Finance Index (PFFI) survey, conducted between September 2024 and January 2025, reveal alarming insights into the financial wellbeing of police officers, and staff, across the UK. With 10,648 responses, the survey, supported by the Police Federation and other police stakeholders, aimed to highlight key themes around the financial health of officers and staff, and provide guidance for financial wellbeing and support.

Reacting to the findings, Acting National Chair, Tiff Lynch, said: “Metfriendly’s independent research provides further evidence and supports what the Police Federation has been telling Government about the hardships police officers are facing because of pay degradation and an erosion of working conditions.

“The Government’s lethargy and refusal to take corrective measures, despite mounting evidence spotlighting the inadequate compensation officers receive for doing such a difficult and dangerous job, is shocking. Our worries are not just numbers on a page. Findings of independent studies such as this demonstrate the significant impact on the mental health and wellbeing of officers and their families because of financial hardship.

“We will be intensifying our campaign for police pay which takes into account the difficulties and dangers of the job and demanding that the Government urgently take remedial steps.”

Acting Deputy National Chair, Brian Booth, added: “The survey highlights the ongoing financial struggles faced by our members and their broader impacts on their wellbeing.

“The cost-of-living crisis continues to affect housing costs, daily life and mental health, leading many to consider leaving the police service. Addressing these issues is crucial for the wellbeing and retention of police officers and staff.”

 

Key Findings

Financial Concerns and Impact on Mental Health

The survey paints a stark picture: 64 per cent of police officers and 47 per cent of police staff reported having current financial concerns with 55 per cent of police officers and 51 per cent of police staff reporting a high level of stress. Despite a slight easing in inflation and interest rates since the previous PFFI survey, many families still face significant cost-of-living pressures. These pressures are driven by lower-than-inflation pay settlements, increased mortgage rates, hike in utility bills, council tax rises and other financial burdens. The ability to feed themselves and their families remains a critical issue, the survey revealed.

Housing Costs and Financial Resilience

Housing costs have surged, particularly for those officers and staff coming off fixed-rate mortgage deals. Some officers are moving further away from their place of work to afford housing, incurring increased travel time and costs. Easy access to loans and salary advance solutions, sometimes promoted by employers, may mask the financial pressures faced by many. Many respondent police officers mentioned in the survey they are using their retirement lump sum to clear debt accumulated during their career rather than as a foundation for their future.

Impact on Daily Life

The survey highlights a worrying lack of financial resilience among police families. Should the ability to access overtime be unavailable due to injury or illness, many families will be severely impacted in a short time. It is not just about mortgage costs increasing; loan repayments for car or home improvements that were previously affordable are no longer manageable for many respondents. Many are raiding their savings to pay bills and avoid going into debt. Police officers and staff reported arriving at work hungry, stressed, and concerned about their family's future financial situation.

Missed Meals and Financial Obligations

The proportion of all respondents missing meals due to lack of money was 16 per cent, with the figure rising to 17 per cent for police officers and 22 per cent for those under the age of 35 years. Just over 11 per cent of all respondents reported missing financial obligations in the past year. The significant impact of current financial circumstances on mental health is a major issue with 55 per cent of police officers recording a high level of impact.

Pension Concerns and Future Plans

The survey revealed that 42 per cent of police officers considered stopping their pension contributions due to financial pressures in the past 12 months. This includes six per cent who went on to stop contributing. Officers under the age of 35 years were much more likely to consider opting out of the pension (60 per cent) and twice as likely as those aged 35-55 years to opt out (12 per cent). Regarding steps to improve their personal financial situation over the next 12 months, 51 per cent of all respondents plan to do more overtime, rising to 53 per cent for police officers. Additionally, 18 per cent of police officers are considering a second job, and 31 per cent are thinking of changing their job and leaving policing.

Intention to Leave the Police Service

When asked if they plan to leave the police service in the next five years, a third (33 per cent) of all respondents, including 32 per cent of police officers, responded "No." The remainder of police officer responses were split between those planning to retire (24 per cent), those intending to leave policing for another job (20 per cent), and those who were unsure.

 

Implications on Recruitment and Retention

The financial pressures and mental health impacts highlighted in the survey have significant implications on police recruitment and retention. Here are some key points:

Financial Concerns: The high levels of financial stress amongst police officers and staff can drive experienced officers to leave the profession and deter potential recruits. Knowing that a significant portion of current officers are struggling financially may make the profession less attractive to new candidates.

Mental Health Impact: The survey shows that financial stress is taking a toll on mental health, with over half of the respondents reporting significant impacts. This can lead to higher burnout rates for serving officers and a less appealing work environment for new recruits.

Housing Costs: Increased housing costs, particularly for those coming off fixed-rate mortgage deals, are a major concern and can act as a pivotal reason in a better paying job outside the police service. Potential recruits may be discouraged by the prospect of high living expenses, especially if they need to move to areas with higher housing costs.

Pension Concerns: The fact that 42 per cent of police officers have considered stopping their pension contributions due to financial pressures can be alarming for potential recruits. Pensions are often seen as a key benefit of public sector jobs and concerns about their viability can make the profession less attractive.

Intention to Leave: With a significant number of current officers considering leaving the profession, forces face a serious risk of boots-on-the-ground crisis. This can create a cycle where the increased workload and stress on remaining officers make the job even less appealing to new recruits.

Recruitment Challenges: The overall negative economic outlook and the specific financial struggles of serving officers can make it harder to attract recruiting young officers. Potential recruits may opt for careers with better financial stability and less stress.

 

You can read the full report here.