A large number of RUC officers eligible for early severance packages under the Patten proposals are "extremely unhappy" with the deal on offer, according to the Northern Ireland Police Federation.
A federation spokesman said that the compensation package would not encourage officers to take early retirement.
"We are very much committed to the new recruitment practices proposed by Patten, but what is currently on offer is just not good enough to make 2,850 officers, who could still be earning their full salaries for another 10 to 15 years, opt for retirement," he added.
The spokesman said the amounts to be paid to retiring officers were "nothing out of the ordinary" and equal to those paid to retiring officers in England, Scotland and Wales.
The federation's unit handling the severance arrangements confirmed it had received around 1,500 initial inquiries from officers interested in early retirement, but once the details were revealed, less than 500 officers had taken the next step of formally asking for more information.
The British government is hoping for 600 officers to volunteer for early retirement in the first year to be able to start the process of recruiting Catholics to achieve in time a balanced force.
Only officers whose combined age and years of service total more than 81 are eligible to apply for the severance package. The deadline for applications is October 31st.
An NIO spokesman yesterday said the "generous" early retirement scheme fully met the "government's commitment to sympathetic and generous treatment".