Officers getting more financially prudent
Financial prudence is an essential element of healthy life. Therefore, Personnel Services and Staff Relations (PS & SR) Branch has all along been promoting financial prudence among Force members and their families with education as well as promotional and other activities.
In respect of officers with financial difficulties, the Force adopts a strategy of early identification and early intervention. A guideline recently compiled by PS & SR Branch advises supervisors and Force members on how to identify officers who might get into financial difficulties, and to offer assistance and support. The guideline also suggests that officers should be encouraged to consult professionals or organisations for assistance if necessary, such as the Police Welfare Office, Psychological Services Group (PSG), Training and Staff Relations Office or volunteer social services agencies. Financial Helppage on POINT also provides financial information for officers.
Retiring PS & SR Branch Superintendent Tang Kay-hon told OffBeat that the Force's existing policy on Officers with Unmanageable Debts (OUD) is to impress on Force members the importance of financial management with preventive measures, education and disciplinary action.
"The Force management always shows care and concern as well as understanding for those officers who have incurred debts due to unforeseeable or extenuating circumstances, and does its utmost to help them tide over their financial difficulties," he noted.
Mr Tang pointed out that the Force actively instils the concept of financial prudence among Force members. And PS & SR Branch regularly disseminates related information to Sergeants, Station Sergeants and Probationary inspectors attending training courses at Police College.
Mr Tang went on to say that over the years the Force had been successful in promoting healthy lifestyles and financial prudence. The continuing drop in the number of OUD indicated that the message on financial management had been successfully brought home to Force members.
During his outreach visits to various units, Mr Tang continued, he noticed that most officers had cultivated different habits of saving. It also came as a surprise to him that some unmarried constables had set aside as much as 40 percent of their salaries for fixed deposit or long-term investments with low risk in order to secure better protection after retirement. Many officers have the habit of settling their credit card payments every month. "This concept of financial management is quite different from that prevailing when I joined the Force," he noted.
At present, Recruit Police Constables (RPC), during the course of their training at Police College, learn the importance of financial prudence to Police integrity. By the time they march out from Police College, they would have a good idea of what is financial management.
Healthy
lifestyle promotion successful
Mr Tang further pointed out that PS & SR Branch and Police College are studying ways to enhance officers' understanding on financial planning. As Training and Staff Relations Officers and Welfare Officers play an important role in promoting financial prudence, PS & SR Branch also organises talks for them to brush up their knowledge in this aspect.
PS & SR Branch has been publicising the importance of financial management with different channels. Besides regularly organising promotional activities and talks on financial management, PS and SR Branch also uses Noticeboard to remind officers of upcoming tax payments, showing it is very concerned about Force members' financial situations.
For OUD, the Force has organised workshops on stress management, where PSG experts provided counselling services and answered questions on financial matters. Disclosing that the two workshops held last year were well received by the participants, Mr Tang said: "I'm very optimistic about the situation concerning OUD. At present, the number of such officers is the lowest since 2002."
Thanks to the active promotion of healthy lifestyles within the Force, Mr Tang continued, many officers had changed their ways of life for good and were engaged in wholesome pursuits, such as running, hiking and ball games.
Culture of
saving has taken root
Police Credit Union (PCU) is PS & SR Branch's best partner in helping officers with their debts. PCU Director, Mr Kuan Chong-hoi, pointed out that since the union came into being 30 years ago, deposits had been on the rise. At the end of last year, the union's total assets topped $4 billion and membership stood at over 30 000. The average deposit by a union member was over $120 000, indicating the culture of saving has taken root within the Force.
Mr Kuan said PCU offers different types of loans to members, such as those for house removal and medical care. However, the figure of the loans kept decreasing every year while savings kept increasing at the same time. "This situation is very encouraging and it is the outcome of the efforts the Force has made over the years," he noted.
PS & SR Branch and PCU have jointly introduced a Special Loan Scheme, under which the former refers officers to the union for assistance. So far, over 20 officers have benefited from the plan and most of them have paid back their loans and shed off their OUD label. More importantly, none of them have incurred unmanageable debts again.
To help Force members with financial difficulties, the Force will continue with its policy of early identification and early intervention and show care and concern in the hope officers would whole-heartedly commit themselves to their job.
SP
Tang
(right) and Mr Kuan are glad to note that officers have grasped
the concept of prudent financial management