Pensions Update

27 July 2007

Church of England Pensions Scheme  - proposed scheme changes

Following consultations within the Church on the two reports produced last year by the Archbisops’ Pensions Task Group, the Archbishops’ Council made a report to the General Synod (GS1645) in February.

The Clergy Pension Scheme has a valued place in our remuneration arrangements and provides important benefits. But the pressures on the scheme mean that for it to be secure now and sustainable for the future we have to make changes both to its benefits and to the level at which it is funded by the dioceses. Doing nothing is not an option.

At the February sessions Synod made the important decision that the existing, defined benefit, non-contributory pension scheme should remain open but approved in principle a number of changes to secure the future affordability of the scheme. Before these changes to the scheme are made we want to consult with scheme members.

The period of consultation closed on 31 May. Responses to the consultation were considered and final recommendations (GS1660) were brought to General Synod in July to make changes that would take effect from 1 January 2008.

The General Synod overwhelmingly approved the changes and an explanatory letter will be in clergy payslips at the end of July.

Ministry Division

27 July 2007