UK - The Home Office is to carry out a radical review of the Police Pension Scheme in a bid to stem the flood of officers retiring early and to stop haemorrhaging costs.
A White Paper – Policing A New Century: A Blueprint for Reform – notes that the police force is losing many experienced officers because current regulations enable them to retire with an immediate maximum pension and lump sum after only 30 years’ service.
Critics have claimed that there are few incentives to keep officers in the force for longer, and the pension scheme is becoming increasingly unaffordable for newer entrants as costs soar.
The White Paper noted: “We are looking at ways of modernising police pensions to make them more flexible and affordable for future entrants.
“While in many ways the police pension is a generous one, by comparison with modern private sector schemes it is inflexible. It does not necessarily meet the needs of those who might be attracted to a shorter term commitment to the police service, nor those who might join the police later in their working career.”
The police force has nearly 130,000 officers who are currently serving along with more than 50,000 support staff and 12,700 special constables. The government plans to expand these numbers significantly in the next five years.
By Jonathan Stapleton
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